Cable One (CABO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Cable One (NYSE:CABO) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

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. “

CABO has been the subject of a number of other research reports. BidaskClub upgraded shares of Cable One from a hold rating to a buy rating in a research report on Friday, October 13th. JPMorgan Chase & Co. cut shares of Cable One from a neutral rating to an underweight rating in a research report on Monday, November 13th. SunTrust Banks restated a buy rating and issued a $815.00 price objective on shares of Cable One in a research report on Friday, November 10th. Finally, Wells Fargo & Co restated a market perform rating and issued a $700.00 price objective (down previously from $761.00) on shares of Cable One in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $789.50.

Shares of Cable One (NYSE:CABO) traded down $4.35 during trading on Monday, hitting $714.15. 12,300 shares of the company’s stock traded hands, compared to its average volume of 33,944. The company has a market cap of $4,091.64, a PE ratio of 34.87, a price-to-earnings-growth ratio of 9.66 and a beta of 0.20. Cable One has a 52 week low of $573.60 and a 52 week high of $788.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.21.

Cable One (NYSE:CABO) last issued its earnings results on Wednesday, November 8th. The company reported $5.48 EPS for the quarter, beating the consensus estimate of $5.20 by $0.28. The company had revenue of $253.85 million during the quarter, compared to analysts’ expectations 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 company posted $3.63 EPS. research analysts forecast that Cable One will post 22.14 earnings per share for the current fiscal year.

In related news, insider Thomas O. Might sold 6,288 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $681.20, for a total value of $4,283,385.60. Following the completion of the transaction, the insider now directly owns 37,702 shares of the company’s stock, valued at approximately $25,682,602.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Thomas O. Might sold 2,793 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $676.44, for a total transaction of $1,889,296.92. Following the completion of the transaction, the chairman now directly owns 37,702 shares of the company’s stock, valued at $25,503,140.88. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CABO. Renaissance Technologies LLC boosted its stake in Cable One by 92.3% in the 2nd quarter. Renaissance Technologies LLC now owns 137,200 shares of the company’s stock worth $97,535,000 after purchasing an additional 65,847 shares during the period. Janus Henderson Group PLC boosted its stake in Cable One by 312.7% in the 3rd quarter. Janus Henderson Group PLC now owns 69,774 shares of the company’s stock worth $50,385,000 after purchasing an additional 52,867 shares during the period. Citadel Advisors LLC acquired a new position in Cable One in the 2nd quarter worth $33,648,000. Wells Fargo & Company MN boosted its stake in Cable One by 432.6% in the 2nd quarter. Wells Fargo & Company MN now owns 17,130 shares of the company’s stock worth $12,178,000 after purchasing an additional 13,914 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Cable One by 18.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 81,145 shares of the company’s stock worth $58,596,000 after purchasing an additional 12,402 shares during the period. 73.10% of the stock is owned by hedge funds and other institutional investors.

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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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