Cabot (NYSE:CBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Cabot Corporation is a leading global specialty chemicals and performance materials company serving key industries including transportation, infrastructure, environment and consumer. Their people are empowered to share ideas, compare new findings, and collaborate to ensure they capture the best thinking across their global network. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods. It also provides compounds of carbon black and rubber primarily for tire applications; and cesium formate, a drilling and completion fluid for use in high pressure and high temperature oil and gas well construction. “

Several other analysts have also weighed in on the company. Loop Capital raised Cabot from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Friday, January 5th. Jefferies Group reissued a “buy” rating and issued a $74.00 target price on shares of Cabot in a report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, ValuEngine raised Cabot from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $70.67.

Shares of Cabot (NYSE CBT) opened at $67.58 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17. The firm has a market capitalization of $4,137.62, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. Cabot has a twelve month low of $50.21 and a twelve month high of $68.08.

Cabot (NYSE:CBT) last posted its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. Cabot had a net margin of 8.87% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. equities research analysts forecast that Cabot will post 3.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Cabot by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,118 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 33 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cabot by 9.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 209 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Cabot by 2.0% during the second quarter. Ameritas Investment Partners Inc. now owns 18,696 shares of the specialty chemicals company’s stock valued at $999,000 after acquiring an additional 363 shares during the last quarter. Gratus Capital LLC boosted its stake in shares of Cabot by 9.9% during the third quarter. Gratus Capital LLC now owns 8,853 shares of the specialty chemicals company’s stock valued at $494,000 after acquiring an additional 800 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Cabot by 11.5% during the third quarter. Pacer Advisors Inc. now owns 9,232 shares of the specialty chemicals company’s stock valued at $515,000 after acquiring an additional 950 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Cabot (CBT) Downgraded by Zacks Investment Research” was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.watchlistnews.com/cabot-cbt-downgraded-by-zacks-investment-research/1814789.html.

Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

Get a free copy of the Zacks research report on Cabot (CBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cabot (NYSE:CBT)

Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.