Cable One (NYSE:CABO) Hits New 52-Week Low – Should You Sell?

Shares of Cable One, Inc. (NYSE:CABO) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $106.19 and last traded at $107.8550, with a volume of 196595 shares traded. The stock had previously closed at $114.17.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of Cable One from $120.00 to $107.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $256.75.

Cable One Trading Down 5.5%

The company has a market cap of $608.30 million, a price-to-earnings ratio of -1.32 and a beta of 0.86. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.38 and a quick ratio of 0.37. The business’s 50-day simple moving average is $158.66 and its 200-day simple moving average is $153.38.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08). Cable One had a positive return on equity of 7.96% and a negative net margin of 29.78%.The business had revenue of $376.01 million for the quarter, compared to analysts’ expectations of $378.96 million. Research analysts predict that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cable One

A number of institutional investors have recently made changes to their positions in CABO. Baupost Group LLC MA acquired a new stake in shares of Cable One during the third quarter valued at $12,068,000. Burgundy Asset Management Ltd. raised its stake in Cable One by 18.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock valued at $64,473,000 after purchasing an additional 72,327 shares during the last quarter. Clarkston Capital Partners LLC lifted its holdings 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 boosted its stake in shares of Cable One by 57.0% during the 1st 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. Finally, Private Management Group Inc. grew its holdings in shares of Cable One by 1.6% during the third quarter. Private Management Group Inc. now owns 316,245 shares of the company’s stock worth $55,991,000 after buying an additional 5,114 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.