Cable One (NYSE:CABO) Raised to Neutral at BNP Paribas Exane

Cable One (NYSE:CABO) was upgraded by BNP Paribas Exane from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $125.00 price objective on the stock. BNP Paribas Exane’s target price would indicate a potential downside of 5.40% from the stock’s current price.

CABO has been the subject of several other reports. Wells Fargo & Company reduced their price target on Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Cable One in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Cable One from $325.00 to $222.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Finally, Raymond James cut shares of Cable One from an “outperform” rating to a “market perform” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Cable One has an average rating of “Hold” and a consensus target price of $309.25.

Cable One Stock Up 1.4%

NYSE:CABO opened at $132.13 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $194.05 and its 200-day moving average price is $272.42. Cable One has a 1-year low of $130.08 and a 1-year high of $437.00. The firm has a market capitalization of $743.63 million, a P/E ratio of 3.06 and a beta of 0.82.

Cable One (NYSE:CABO) last announced its quarterly earnings results on Thursday, May 1st. The company reported $12.32 earnings per share for the quarter, topping the consensus estimate of $12.21 by $0.11. The company had revenue of $380.60 million for the quarter, compared to the consensus estimate of $386.61 million. Cable One had a return on equity of 10.98% and a net margin of 15.86%. As a group, equities research analysts anticipate that Cable One will post 32.08 EPS for the current year.

Insider Activity

In related news, Director Wallace R. Weitz purchased 7,000 shares of Cable One stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the transaction, the director now directly owns 17,140 shares in the company, valued at approximately $2,271,564.20. This trade represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary E. Meduski acquired 250 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $148.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now owns 3,599 shares in the company, valued at $532,652. The trade was a 7.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in Cable One during the 1st quarter worth $30,000. AlphaQuest LLC purchased a new position in shares of Cable One in the fourth quarter worth about $49,000. Brooklyn Investment Group boosted its position in Cable One by 5,233.3% during the first quarter. Brooklyn Investment Group now owns 160 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares during the last quarter. Federated Hermes Inc. boosted its position in Cable One by 201.8% during the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock worth $60,000 after acquiring an additional 111 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Cable One by 1,435.7% during the 1st quarter. Farther Finance Advisors LLC now owns 215 shares of the company’s stock valued at $58,000 after acquiring an additional 201 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

About Cable One

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.