Loop Capital Markets analyst Chris Kapsch maintained a Buy rating on Cabot (CBT – Research Report) today and set a price target of $102.00. The company’s shares closed yesterday at $71.34.
According to TipRanks, Kapsch is a 5-star analyst with an average return of 10.7% and a 59.66% success rate. Kapsch covers the Basic Materials sector, focusing on stocks such as Cabot, Compass Minerals International, and Ingevity.
In addition to Loop Capital Markets, Cabot also received a Buy from Credit Suisse’s John Roberts CFA in a report issued on August 8. However, on August 11, J.P. Morgan maintained a Hold rating on Cabot (NYSE: CBT).
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Based on Cabot’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $968 million and a net profit of $82 million. In comparison, last year the company earned a revenue of $1.15 billion and had a net profit of $97 million
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Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, aerogel, cesium formate drilling fluids, and fine cesium chemicals. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, Purification Solutions, and Specialty Fluids. The Reinforcement Materials segment involves the rubber blacks and elastomer composites product lines. The Performance Chemicals segment combines the specialty carbons and compounds and inkjet colorants product lines into the specialty carbons and formulations business. The Purification Solutions segment refers to the activated carbon business and the specialty fluids segment. The Specialty Fluids segment represents the rental of cesium formate. Cabot was founded by Godfrey Lowell Cabot in 1882 and is headquartered in Boston, MA.
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