KeyBanc Downgrades Cabot Corp to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Cabot Corp(NYSE:CBT). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Apr 11, 2016.

In a different note, On Mar 14, 2016, JP Morgan said it Downgrades its rating on Cabot Corp. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

Cabot Corp (CBT) made into the market gainers list on Fridays trading session with the shares advancing 0.19% or 0.09 points. Due to strong positive momentum, the stock ended at $48.03, which is also near the day’s high of $48.24. The stock began the session at $47.85 and the volume stood at 3,64,030 shares. The 52-week high of the shares is $49.62 and the 52 week low is $30.7. The company has a current market capitalization of $2,995 M and it has 6,23,58,741 shares in outstanding.

Cabot Corp(CBT) last announced its earnings results on Feb 1, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $603.00M. Analysts had an estimated revenue of $704.75M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, James Patrick Kelly (Vice President and Controller) sold 12,225 shares at $47.05 per share price.Also, On Mar 2, 2016, Patrick M. Prevost (President and CEO) sold 60,000 shares at $44.98 per share price.On Feb 26, 2015, Ronaldo H Schmitz (director) sold 5,000 shares at $46.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Cabot Corporation (Cabot) 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 Company operates through four segments: Reinforcement Materials Performance Chemicals Purification Solutions and Specialty Fluids. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.

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