Cable One (NYSE:CABO) Downgraded by Wall Street Zen to “Sell”

by · The Markets Daily

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

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

View Our Latest Report on Cable One

Cable One Stock Down 4.5%

CABO stock opened at $17.30 on Friday. Cable One has a fifty-two week low of $16.99 and a fifty-two week high of $180.74. The company has a debt-to-equity ratio of 9.27, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $98.10 million, a price-to-earnings ratio of -0.09 and a beta of 0.48. The business’s fifty day moving average price is $31.59 and its two-hundred day moving average price is $58.75.

Hedge Funds Weigh In On Cable One

Several hedge funds have recently bought and sold shares of CABO. Man Group plc bought a new stake in shares of Cable One during the 2nd quarter worth approximately $4,972,000. Private Management Group Inc. increased its stake in Cable One by 55.1% in the second quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock valued at $25,067,000 after acquiring an additional 167,590 shares during the last quarter. Pacer Advisors Inc. bought a new position in Cable One in the first quarter valued at approximately $3,395,000. Lee Danner & Bass Inc. raised its position in Cable One by 218.7% during the first quarter. Lee Danner & Bass Inc. now owns 21,350 shares of the company’s stock valued at $1,947,000 after purchasing an additional 14,650 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Cable One during the second quarter valued at approximately $1,072,000. 89.92% of the stock is owned by institutional investors.

About Cable One

(Get Free Report)

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.

See Also