Cabot Corp (NYSE:CBT) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 689,500 shares, a decrease of 7.2% from the August 30th total of 743,000 shares. Based on an average daily trading volume, of 339,500 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the shares of the stock are short sold.
A number of research firms recently issued reports on CBT. UBS Group began coverage on Cabot in a research note on Thursday, October 10th. They issued a “neutral” rating and a $45.00 target price on the stock. Zacks Investment Research lowered Cabot from a “hold” rating to a “sell” rating and set a $42.00 target price on the stock. in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Cabot from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Northcoast Research set a $45.00 target price on Cabot and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Cabot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.00.
Institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. purchased a new position in shares of Cabot during the 3rd quarter worth $36,000. Machina Capital S.A.S. lifted its stake in shares of Cabot by 409.2% during the 2nd quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 802 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Cabot by 226.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,089 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 755 shares during the period. Coastal Investment Advisors Inc. purchased a new position in shares of Cabot during the 2nd quarter worth $57,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Cabot by 81.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,960 shares of the specialty chemicals company’s stock worth $94,000 after purchasing an additional 879 shares during the period. 85.86% of the stock is currently owned by institutional investors.
Shares of Cabot stock traded up $0.43 during trading hours on Thursday, reaching $43.68. 1,789 shares of the company’s stock were exchanged, compared to its average volume of 260,881. Cabot has a 52-week low of $37.11 and a 52-week high of $55.14. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51. The company has a fifty day moving average of $43.52 and a 200-day moving average of $43.97. The company has a current ratio of 2.07, a quick ratio of 1.27 and a debt-to-equity ratio of 0.83.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. Cabot had a return on equity of 18.60% and a net margin of 6.49%. The company had revenue of $845.00 million for the quarter, compared to analyst estimates of $858.86 million. During the same quarter in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot will post 3.97 earnings per share for the current fiscal year.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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