Cable One, Inc. (NYSE:CABO) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Cable One, Inc. (NYSE:CABO) have earned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $85.40.

A number of equities analysts recently commented on CABO shares. BNP Paribas Exane raised shares of Cable One from an “underperform” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $40.00 in a research note on Tuesday, July 14th. Williams Trading set a $86.00 price target on Cable One in a research report on Friday, August 7th. TD Cowen dropped their price objective on Cable One from $111.00 to $86.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. Zacks Research downgraded shares of Cable One from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Cable One from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday.

Institutional Investors Weigh In On Cable One

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in Cable One in the second quarter valued at approximately $34,000. Squarepoint Ops LLC acquired a new position in shares of Cable One during the second quarter worth $1,203,000. Corient Private Wealth LP lifted its holdings in shares of Cable One by 34.9% during the 2nd quarter. Corient Private Wealth LP now owns 16,807 shares of the company’s stock valued at $893,000 after purchasing an additional 4,351 shares during the last quarter. Susquehanna International Group LLP lifted its holdings in shares of Cable One by 626.5% during the 2nd quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock valued at $2,142,000 after purchasing an additional 34,784 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Cable One by 55.1% during the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock valued at $25,067,000 after purchasing an additional 167,590 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Price Performance

Shares of CABO opened at $18.02 on Friday. The company has a 50 day moving average price of $31.97 and a 200-day moving average price of $59.04. Cable One has a fifty-two week low of $17.73 and a fifty-two week high of $180.74. The stock has a market capitalization of $102.19 million, a PE ratio of -0.10 and a beta of 0.48. The company has a debt-to-equity ratio of 9.27, a quick ratio of 0.48 and a current ratio of 0.48.

About Cable One

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.