Cable One (NYSE:CABO) Cut to Sell at Wall Street Zen

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

Several other research analysts have also recently commented on the stock. BNP Paribas Exane upgraded shares of Cable One from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $60.00 to $40.00 in a research report on Tuesday, July 14th. Zacks Research downgraded Cable One from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Williams Trading set a $86.00 price objective on Cable One in a research report on Friday, August 7th. Weiss Ratings cut Cable One from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday, September 16th. Finally, TD Cowen cut their target price on Cable One from $111.00 to $86.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $85.40.

Cable One Stock Performance

Shares of CABO opened at $18.16 on Friday. The firm has a fifty day moving average of $31.19 and a 200-day moving average of $57.81. The company has a market cap of $102.97 million, a price-to-earnings ratio of -0.10 and a beta of 0.48. 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 1 year low of $16.56 and a 1 year high of $180.74.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. boosted its stake in Cable One by 55.1% during the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock valued at $25,067,000 after purchasing an additional 167,590 shares in the last quarter. Man Group plc bought a new stake in shares of Cable One in the 2nd quarter worth $4,972,000. Pacer Advisors Inc. bought a new stake in shares of Cable One in the 1st quarter worth $3,395,000. Susquehanna International Group LLP lifted its holdings in shares of Cable One by 626.5% in the second quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock valued at $2,142,000 after buying an additional 34,784 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cable One in the second quarter valued at $1,419,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Cable One Company Profile

Cable One, Inc is a broadband communications provider headquartered in Phoenix, Arizona. Through its Sparklight brand, the company delivers internet, video and voice services to residential customers, as well as broadband and communications solutions for businesses.

The company focuses primarily on serving smaller cities and rural communities. Its consumer offerings include high-speed internet, Wi-Fi services, traditional and digital video programming, and voice services. Cable One also provides business customers with internet access, data connectivity, phone services and other managed communications solutions.

Cable One traces its history to the cable television operations of The Washington Post Company and became an independent publicly traded company in 2015 following the separation of those assets from Graham Holdings Company.