Cable One (NYSE:CABO) Trading Down 9.7% – Time to Sell?

Cable One, Inc. (NYSE:CABO)’s stock price was down 9.7% during trading on Friday . The stock traded as low as $124.00 and last traded at $120.49. Approximately 13,633 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 167,379 shares. The stock had previously closed at $133.42.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CABO shares. Wells Fargo & Company decreased their price target on Cable One from $210.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $279.25.

Cable One Stock Down 0.5%

The firm has a market capitalization of $747.77 million, a PE ratio of -1.45 and a beta of 0.86. The business’s fifty day moving average price is $162.63 and its 200 day moving average price is $158.21. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $14.52 EPS for the quarter, beating the consensus estimate of $9.25 by $5.27. The firm had revenue of $376.01 million during the quarter, compared to the consensus estimate of $378.96 million. Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%. On average, equities research analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cable One

Institutional investors have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. boosted its holdings in Cable One by 18.0% during the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after buying an additional 72,327 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in Cable One by 34.2% in the 1st quarter. Clarkston Capital Partners LLC now owns 357,192 shares of the company’s stock valued at $94,931,000 after purchasing an additional 90,934 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Cable One by 57.0% during the first quarter. Canada Pension Plan Investment Board now owns 323,300 shares of the company’s stock worth $85,923,000 after purchasing an additional 117,389 shares during the last quarter. Private Management Group Inc. boosted its position in Cable One by 103.9% during the second quarter. Private Management Group Inc. now owns 311,131 shares of the company’s stock worth $42,255,000 after purchasing an additional 158,564 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Cable One by 11.8% in the third quarter. DAVENPORT & Co LLC now owns 271,723 shares of the company’s stock valued at $48,109,000 after purchasing an additional 28,761 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.