Optical Cable (NASDAQ:OCC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Optical Cable (NASDAQ:OCC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

OCC has been the topic of a number of other research reports. Zacks Research upgraded Optical Cable to a “hold” rating in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Optical Cable presently has a consensus rating of “Reduce”.

Optical Cable Stock Down 9.7%

OCC opened at $13.20 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 0.77. The company’s 50-day moving average is $14.83 and its 200 day moving average is $13.20. Optical Cable has a fifty-two week low of $4.02 and a fifty-two week high of $27.98. The firm has a market capitalization of $116.69 million, a P/E ratio of 45.52 and a beta of 0.57.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings results on Wednesday, September 9th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $24.30 million for the quarter, compared to analysts’ expectations of $24.50 million. Optical Cable had a net margin of 3.10% and a return on equity of 15.88%. Research analysts expect that Optical Cable will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Optical Cable

In other news, CFO Tracy G. Smith sold 16,453 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the completion of the sale, the chief financial officer owned 329,826 shares in the company, valued at $5,682,901.98. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Optical Cable

Several institutional investors have recently bought and sold shares of OCC. Sei Investments Co. purchased a new stake in Optical Cable in the first quarter worth $754,000. Round Rock Advisors LLC lifted its position in shares of Optical Cable by 88.5% during the 2nd quarter. Round Rock Advisors LLC now owns 58,937 shares of the communications equipment provider’s stock valued at $1,236,000 after buying an additional 27,665 shares during the last quarter. Shikiar Asset Management Inc. lifted its position in shares of Optical Cable by 14.4% during the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 3,550 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Optical Cable during the 2nd quarter worth $216,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.