The stock of Cabot Corp (NYSE:CBT) hit a new 52-week high and has $83.67 target or 62.00% above today’s $51.65 share price. The 9 months bullish chart indicates low risk for the $3.28B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $83.67 price target is reached, the company will be worth $2.03 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 136,501 shares traded hands. Cabot Corp (NYSE:CBT) has risen 13.57% since March 4, 2016 and is uptrending. It has outperformed by 5.53% the S&P500.
Analysts await Cabot Corp (NYSE:CBT) to report earnings on November, 7. They expect $0.93 earnings per share, up 19.23% or $0.15 from last year’s $0.78 per share. CBT’s profit will be $59.06M for 13.88 P/E if the $0.93 EPS becomes a reality. After $0.93 actual earnings per share reported by Cabot Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Cabot Corp (NYSE:CBT) Ratings Coverage
Out of 6 analysts covering Cabot (NYSE:CBT), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. $55 is the highest target while $37.0 is the lowest. The $52.25 average target is 1.16% above today’s ($51.65) stock price. Cabot has been the topic of 9 analyst reports since August 13, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained it with “Hold” rating and $37.0 target price in Thursday, August 13 report. The firm has “Sell” rating by Zacks given on Tuesday, September 1. The firm earned “Neutral” rating on Monday, March 14 by JP Morgan. The firm earned “Sector Weight” rating on Monday, April 11 by KeyBanc Capital Markets. The firm earned “Buy” rating on Wednesday, November 11 by Deutsche Bank. The company was initiated on Thursday, December 10 by BB&T Capital. On Tuesday, August 2 the stock rating was downgraded by SunTrust to “Neutral”. Deutsche Bank maintained Cabot Corp (NYSE:CBT) on Friday, August 12 with “Hold” rating.
According to Zacks Investment Research, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release)”
Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.02, from 1.11 in 2016Q1. The ratio worsened, as 24 funds sold all Cabot Corp shares owned while 84 reduced positions. 22 funds bought stakes while 96 increased positions. They now own 52.28 million shares or 0.87% less from 52.74 million shares in 2016Q1.
The Alabama-based Mesirow Finance Invest Management has invested 0.93% in Cabot Corp (NYSE:CBT). Piermont Capital Management Incorporated has 0.49% invested in the company for 41,367 shares. Parametric Assocs Limited Com has 467,453 shares for 0.03% of their US portfolio. Panagora Asset has 790,114 shares for 0.18% of their US portfolio. Engineers Gate Manager Limited Partnership owns 31,123 shares or 0.1% of their US portfolio. California Pub Employees Retirement accumulated 0.01% or 184,900 shares. Hsbc Plc has 0.01% invested in the company for 68,030 shares. Nomura Holdings, a Japan-based fund reported 6,443 shares. Martingale Asset Mgmt Lp owns 202,229 shares or 0.15% of their US portfolio. Natl Bank Of Montreal Can last reported 0% of its portfolio in the stock. State Treasurer State Of Michigan accumulated 25,080 shares or 0.01% of the stock. Hillsdale Investment Management last reported 9,580 shares in the company. Retirement Sys Of Alabama owns 80,493 shares or 0.02% of their US portfolio. Teacher Retirement Systems Of Texas accumulated 8,735 shares or 0% of the stock. The New York-based Hutchin Hill Cap L P has invested 0.05% in Cabot Corp (NYSE:CBT).
Insider Transactions: Since July 12, 2016, the stock had 0 insider purchases, and 8 sales for $6.13 million net activity. Prevost Patrick M. sold 2,200 shares worth $110,468. BERUBE BRIAN A also sold $822,765 worth of Cabot Corp (NYSE:CBT) shares. CORDEIRO EDUARDO E had sold 27,073 shares worth $1.35 million. Kelly James Patrick sold $122,375 worth of stock. Cross Nicholas S. had sold 21,584 shares worth $1.09 million on Monday, August 29.
More news for Cabot Corp (NYSE:CBT) were recently published by: Zacks.com, which released: “Will Cabot Corp. (CBT) Disappoint Estimates in Q3 Earnings?” on July 25, 2016. Businesswire.com‘s article titled: “Cabot Corporation Announces Joint Venture with Inner Mongolia Hengyecheng …” and published on September 12, 2016 is yet another important article.
CBT Company Profile
Cabot Corporation (Cabot), incorporated on July 14, 1960, is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Firm operates through four divisions: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids. It operates in three geographic regions: Americas Region; Europe, the Middle East and Africa (EMEA) Region, and Asia Pacific Region. Cabot and its affiliates have manufacturing facilities and activities in the United States and over 20 other countries. It focuses on creating particles with the composition, morphology, surface functionalities and formulations.
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