Cable One, Inc. (CABO) Rating Increased to Strong-Buy at Zacks Investment Research
Cable One, Inc. (NYSE:CABO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $787.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.06% from the company’s previous close.
According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “
Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company restated a “market perform” rating and issued a $700.00 target price (down from $761.00) on shares of Cable One in a research report on Monday. J P Morgan Chase & Co cut shares of Cable One from a “neutral” rating to an “underweight” rating in a research report on Monday. BidaskClub cut shares of Cable One from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. SunTrust Banks, Inc. restated a “buy” rating and issued a $815.00 target price on shares of Cable One in a research report on Friday. Finally, Raymond James Financial, Inc. boosted their target price on shares of Cable One from $785.00 to $815.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Cable One presently has an average rating of “Hold” and a consensus price target of $705.00.
Cable One (CABO) traded down $9.02 during midday trading on Monday, reaching $683.98. 36,200 shares of the company’s stock were exchanged, compared to its average volume of 35,771. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.21. The company has a market cap of $3,918.78, a P/E ratio of 33.40, a P/E/G ratio of 10.27 and a beta of 0.24. Cable One has a 52-week low of $564.26 and a 52-week high of $788.00.
Cable One (NYSE:CABO) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $5.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.20 by $0.28. The firm had revenue of $253.85 million during the quarter, compared to the consensus estimate of $255.68 million. Cable One had a net margin of 12.95% and a return on equity of 23.97%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. research analysts forecast that Cable One will post 22.2 earnings per share for the current fiscal year.
In other Cable One news, COO Michael E. Bowker sold 1,244 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $740.59, for a total value of $921,293.96. Following the completion of the transaction, the chief operating officer now directly owns 7,104 shares in the company, valued at approximately $5,261,151.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin P. Coyle sold 450 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $740.91, for a total transaction of $333,409.50. Following the completion of the transaction, the chief financial officer now owns 4,440 shares of the company’s stock, valued at $3,289,640.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,561 shares of company stock valued at $1,893,119. 1.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in Cable One by 13.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock valued at $51,780,000 after acquiring an additional 8,521 shares during the period. BB&T Corp increased its position in Cable One by 23.8% in the 3rd quarter. BB&T Corp now owns 15,452 shares of the company’s stock valued at $11,158,000 after acquiring an additional 2,970 shares during the period. Great Lakes Advisors LLC acquired a new position in Cable One in the 2nd quarter valued at approximately $1,905,000. Prudential Financial Inc. increased its position in Cable One by 20.7% in the 2nd quarter. Prudential Financial Inc. now owns 13,134 shares of the company’s stock valued at $9,337,000 after acquiring an additional 2,249 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Cable One by 16.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 18,314 shares of the company’s stock valued at $13,020,000 after acquiring an additional 2,523 shares during the period. Hedge funds and other institutional investors own 70.35% of the company’s stock.
About Cable One
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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