Optical Cable (NASDAQ:OCC) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Optical Cable from “hold” to “buy,” although the broader analyst consensus remains “Reduce,” with other ratings including “hold” and “sell.”
• Optical Cable reported quarterly EPS of $0.12 on $22.21 million in revenue, compared with a loss of $0.09 per share in the prior-year period; analysts expect $0.49 in full-year EPS.
• The stock opened at $13.55, with a $119.61 million market capitalization and a 12-month trading range of $4.02 to $27.98. CFO Tracy G. Smith sold 16,453 shares, while insiders and institutional investors own 22.40% and 13.61% of the company, respectively.

Optical Cable (NASDAQ:OCC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other research analysts also recently weighed in on OCC. Zacks Research upgraded Optical Cable to a "hold" rating in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Optical Cable in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Optical Cable Price Performance

Optical Cable stock opened at $13.55 on Friday. The stock has a market capitalization of $119.61 million, a P/E ratio of 112.93 and a beta of 0.55. Optical Cable has a 12-month low of $4.02 and a 12-month high of $27.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The firm's 50-day moving average is $15.91 and its two-hundred day moving average is $12.55.

Optical Cable (NASDAQ:OCC - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. The business had revenue of $22.21 million during the quarter. During the same period in the prior year, the firm earned ($0.09) EPS. Equities analysts predict that Optical Cable will post 0.49 earnings per share for the current year.

Insider Transactions at Optical Cable

In related news, CFO Tracy G. Smith sold 16,453 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the transaction, the chief financial officer owned 329,826 shares in the company, valued at approximately $5,682,901.98. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On Optical Cable

Hedge funds have recently made changes to their positions in the business. Gendell Jeffrey L lifted its holdings in shares of Optical Cable by 47.4% during the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider's stock valued at $1,848,000 after acquiring an additional 133,510 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Optical Cable by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider's stock valued at $1,197,000 after purchasing an additional 4,497 shares during the period. Royal Bank of Canada raised its position in Optical Cable by 8.3% in the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider's stock valued at $348,000 after purchasing an additional 9,535 shares during the period. Sei Investments Co. acquired a new position in shares of Optical Cable during the first quarter worth about $754,000. Finally, Two Sigma Investments LP acquired a new position in shares of Optical Cable during the third quarter worth about $487,000. Hedge funds and other institutional investors own 13.61% of the company's stock.

Optical Cable Company Profile

Optical Cable Corporation NASDAQ: OCC is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company's offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.

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