Cable One (NYSE:CABO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cable One from “hold” to “sell,” while the broader analyst consensus is “Reduce,” with three Hold and three Sell ratings and an average price target of $85.40.
• Cable One shares fell 4.5% to $17.30, near their 12-month low of $16.99, amid sharply negative valuation and financial metrics, including a debt-to-equity ratio of 9.27 and a market capitalization of approximately $98.1 million.
• Institutional investors own 89.92% of the company’s stock, with several funds recently initiating or increasing positions despite the increasingly bearish analyst outlook.

Cable One (NYSE:CABO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the company. TD Cowen lowered their price target on Cable One from $111.00 to $86.00 and set a "hold" rating on the stock in a report on Friday, August 7th. 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 report on Tuesday, July 14th. Zacks Research lowered shares of Cable One from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Williams Trading set a $86.00 target price on shares of Cable One in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Cable One from a "sell (e+)" rating to a "sell (e)" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $85.40.

Cable One Stock Down 4.5%

CABO opened at $17.30 on Friday. Cable One has a 12 month low of $16.99 and a 12 month high of $180.74. The company has a debt-to-equity ratio of 9.27, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $98.10 million, a P/E ratio of -0.09 and a beta of 0.48. The stock's 50 day moving average price is $31.59 and its 200 day moving average price is $58.75.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently bought and sold shares of CABO. Legal & General Group Plc bought a new position in shares of Cable One during the 2nd quarter valued at about $30,000. Integrated Wealth Concepts LLC bought a new position in shares of Cable One in the second quarter valued at $34,000. Public Employees Retirement System of Ohio bought a new position in shares of Cable One in the second quarter valued at $52,000. Hantz Financial Services Inc. lifted its position in shares of Cable One by 138.4% during the 4th quarter. Hantz Financial Services Inc. now owns 608 shares of the company's stock valued at $69,000 after acquiring an additional 353 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Cable One by 3,100.0% during the 1st quarter. Fifth Third Bancorp now owns 1,120 shares of the company's stock valued at $102,000 after acquiring an additional 1,085 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.