Wells Fargo & Company Cuts Cable One (NYSE:CABO) Price Target to $240.00

Cable One (NYSE:CABO) had its price objective lowered by analysts at Wells Fargo & Company from $340.00 to $240.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 5.27% from the stock’s current price.

CABO has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Cable One from $480.00 to $470.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. KeyCorp reduced their price target on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cable One has a consensus rating of “Hold” and an average target price of $486.20.

Cable One Stock Down 5.0 %

Shares of CABO traded down $13.31 during trading hours on Friday, hitting $253.35. The stock had a trading volume of 89,364 shares, compared to its average volume of 123,406. Cable One has a 1-year low of $250.08 and a 1-year high of $475.00. The firm has a market capitalization of $1.42 billion, a P/E ratio of 5.85 and a beta of 0.89. The firm has a 50 day simple moving average of $322.08 and a 200-day simple moving average of $350.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CABO. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cable One in the 4th quarter valued at $2,137,000. Forum Financial Management LP bought a new stake in shares of Cable One in the 4th quarter worth $630,000. Burgundy Asset Management Ltd. raised its holdings in shares of Cable One by 6.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock valued at $114,569,000 after purchasing an additional 19,545 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Cable One by 182.9% during the fourth quarter. Point72 Hong Kong Ltd now owns 3,941 shares of the company’s stock valued at $1,427,000 after purchasing an additional 2,548 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Cable One by 45.2% during the fourth quarter. ProShare Advisors LLC now owns 1,681 shares of the company’s stock worth $609,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Cable One Company Profile

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.