Fintel reports that on August 11, 2023, JP Morgan maintained coverage of Cabot (NYSE:CBT) with a Neutral recommendation.
Analyst Price Forecast Suggests 26.21% Upside
As of August 2, 2023, the average one-year price target for Cabot is 89.76. The forecasts range from a low of 80.80 to a high of $108.15. The average price target represents an increase of 26.21% from its latest reported closing price of 71.12.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cabot is 4,552MM, an increase of 11.62%. The projected annual non-GAAP EPS is 6.60.
What is the Fund Sentiment?
There are 652 funds or institutions reporting positions in Cabot. This is a decrease of 45 owner(s) or 6.46% in the last quarter. Average portfolio weight of all funds dedicated to CBT is 0.22%, an increase of 6.37%. Total shares owned by institutions decreased in the last three months by 0.51% to 59,295K shares. 
The put/call ratio of CBT is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 4,631K shares representing 8.28% ownership of the company. In it's prior filing, the firm reported owning 4,798K shares, representing a decrease of 3.61%. The firm increased its portfolio allocation in CBT by 9.38% over the last quarter.
Earnest Partners holds 3,101K shares representing 5.54% ownership of the company. In it's prior filing, the firm reported owning 3,164K shares, representing a decrease of 2.05%. The firm decreased its portfolio allocation in CBT by 17.34% over the last quarter.
Fuller & Thaler Asset Management holds 2,109K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 2,114K shares, representing a decrease of 0.24%. The firm increased its portfolio allocation in CBT by 3.89% over the last quarter.
Snyder Capital Management L P holds 1,764K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,777K shares, representing a decrease of 0.75%. The firm increased its portfolio allocation in CBT by 7.48% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,738K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 1,708K shares, representing an increase of 1.69%. The firm increased its portfolio allocation in CBT by 7.70% over the last quarter.
Cabot Background Information
(This description is provided by the company.)
Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of carbon black, specialty carbons, activated carbon, elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel.
Additional reading:
- Amendment No. 1, dated as of April 21, 2023, to Credit Agreement dated as of August 6, 2021, by and among Cabot Corporation, the designated borrowers, the lenders party thereto, and the Administrative Agent
- Amendment No. 2, dated as of July 27, 2023 to Credit Agreement dated as of August 6, 2021, by and among Cabot Corporation, the designated borrowers, the lenders party thereto, and the Administrative Agent
- Credit Agreement, dated as of May 17, 2023, among certain subsidiaries of Cabot Corporation, guaranteed by Cabot Corporation, PNC Bank, National Association, ING Bank. N.V., Dublin branch, U.S. Bank National Association, and Mizuho Bank, Ltd.
- The By-laws of Cabot Corporation as amended May 11, 2023
- Cabot Corp Reports Third Quarter Fiscal 2023 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
