Cabot Corporation (CBT) saw a big move last session, as the company’s shares fell by almost 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for CBT, as the stock is now up over 6% since Oct 15.
The chemical company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (0 increases, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CBT currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the same sector include Pretium Resources Inc. (PVG), Limoneira Company (LMNR), each with a Zacks Rank #1 (Strong Buy) and Celanese Corporation (CE), with a Zacks Rank #2 (Buy).
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