BNP Paribas Exane Issues Pessimistic Forecast for Cable One (NYSE:CABO) Stock Price

Key Points

• BNP Paribas Exane cut Cable One’s price target sharply from $40 to $13 while maintaining a “neutral” rating, implying 11.24% upside from the prior close.
• Analyst sentiment remains weak: three firms rate the stock “Hold” and three rate it “Sell,” resulting in a consensus “Reduce” rating and an $80 target price.
• Cable One shares traded at $11.69, near their 52-week low of $11.46, with a market capitalization of about $66.3 million; institutional investors own approximately 89.9% of the stock.

Cable One (NYSE:CABO - Get Free Report) had its price target reduced by BNP Paribas Exane from $40.00 to $13.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. BNP Paribas Exane's price objective suggests a potential upside of 11.24% from the stock's previous close.

CABO has been the topic of a number of other research reports. Weiss Ratings lowered Cable One from a "sell (e+)" rating to a "sell (e)" rating in a research note on Wednesday, September 16th. Williams Trading set a $86.00 target price on shares of Cable One in a research note on Friday, August 7th. Zacks Research lowered shares of Cable One from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Wall Street Zen cut shares of Cable One from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, TD Cowen lowered their price target on shares of Cable One from $111.00 to $86.00 and set a "hold" rating for the company in a report on Friday, August 7th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Cable One presently has an average rating of "Reduce" and a consensus target price of $80.00.

Cable One Price Performance

CABO stock traded down $0.88 on Tuesday, reaching $11.69. The company had a trading volume of 184,260 shares, compared to its average volume of 215,606. The company's fifty day moving average is $28.64 and its 200 day moving average is $54.48. The company has a market cap of $66.26 million, a P/E ratio of -0.06 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. Cable One has a 1 year low of $11.46 and a 1 year high of $180.74.

Institutional Trading of Cable One

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CABO. Integrated Wealth Concepts LLC purchased a new position in shares of Cable One during the 2nd quarter worth about $34,000. Squarepoint Ops LLC acquired a new stake in shares of Cable One in the second quarter worth approximately $1,203,000. Corient Private Wealth LP grew its holdings in Cable One by 34.9% in the second 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 period. Susquehanna International Group LLP grew its holdings in Cable One by 626.5% in the second 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 period. Finally, Private Management Group Inc. increased its position in Cable One by 55.1% during the second quarter. Private Management Group Inc. now owns 471,990 shares of the company's stock worth $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 Company Profile

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.

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