Cabot (NYSE:CBT) Price Target Cut to $85.00 by Analysts at JPMorgan Chase & Co.

Cabot (NYSE:CBT) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $105.00 to $85.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.52% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Mizuho lowered their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.00.

Cabot Price Performance

Shares of NYSE CBT opened at $84.56 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. The company has a market cap of $4.58 billion, a PE ratio of 11.23, a P/E/G ratio of 0.74 and a beta of 1.19. The business has a 50-day simple moving average of $89.47 and a two-hundred day simple moving average of $101.04. Cabot has a fifty-two week low of $81.24 and a fifty-two week high of $117.46.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. As a group, equities analysts expect that Cabot will post 7.57 EPS for the current fiscal year.

Cabot announced that its board has approved a share buyback program on Tuesday, December 3rd that permits the company to buyback 10,000,000 shares. This buyback authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Cabot

A number of institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in Cabot during the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. CWM LLC raised its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 148 shares in the last quarter. First Horizon Advisors Inc. raised its position in Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after acquiring an additional 117 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Cabot during the third quarter valued at approximately $82,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.