Cable One (NYSE:CABO) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Cable One (NYSE:CABO) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. BNP Paribas Exane decreased their price target on Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 29th. Williams Trading set a $86.00 price objective on Cable One in a report on Friday, August 7th. Zacks Research raised Cable One from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Weiss Ratings upgraded Cable One from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Finally, TD Cowen lowered their target price on Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a report on Friday, August 7th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Cable One currently has a consensus rating of “Reduce” and an average price target of $80.00.

Cable One Stock Performance

Shares of CABO stock opened at $4.33 on Friday. The firm’s 50 day moving average price is $13.34 and its 200-day moving average price is $55.12. The company has a debt-to-equity ratio of 9.27, a quick ratio of 0.48 and a current ratio of 0.48. Cable One has a one year low of $4.01 and a one year high of $137.99. The firm has a market cap of $24.56 million, a P/E ratio of -0.02 and a beta of 0.61.

Cable One (NYSE:CABO) last posted its earnings results on Thursday, November 5th. The company reported ($75.66) earnings per share for the quarter, missing the consensus estimate of $4.51 by ($80.17). Cable One had a negative net margin of 112.20% and a negative return on equity of 16.70%. The company had revenue of $332.15 million during the quarter, compared to analyst estimates of $341.27 million. As a group, equities research analysts predict that Cable One will post 26.21 EPS for the current year.

Institutional Investors Weigh In On Cable One

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of Cable One in the second quarter worth about $30,000. Integrated Wealth Concepts LLC purchased a new position in Cable One in the second quarter valued at about $34,000. Public Employees Retirement System of Ohio acquired a new stake in Cable One during the 2nd quarter valued at approximately $52,000. Fifth Third Bancorp grew its stake in Cable One by 3,100.0% during the 1st quarter. Fifth Third Bancorp now owns 1,120 shares of the company’s stock valued at $102,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Cable One during the 2nd quarter worth approximately $113,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

About Cable One

Cable One, Inc is a broadband communications provider serving residential and business customers in smaller cities and rural communities across the United States. The company operates primarily under the Sparklight brand and provides connectivity services over its cable and fiber networks.

Its consumer offerings include high-speed internet, video entertainment and traditional voice services, along with related products such as Wi-Fi solutions and streaming-oriented television options. For business customers, Cable One provides internet access, data connectivity, communications services and other technology solutions designed for organizations of various sizes.

Cable One traces its history to the cable operations of Graham Holdings Company and became an independent publicly traded company in 2015.