Cable One, Inc. (NYSE:CABO) Given Average Rating of "Reduce" by Brokerages

Key Points

• Cable One, Inc. has received a consensus recommendation of "Reduce" from six brokerages, with one sell rating and five hold ratings.
• The company's recent earnings report showed earnings per share of $3.23, significantly missing the consensus estimate of $8.23.
• Insider trading activity includes two directors purchasing shares, resulting in a notable increase in their stock ownership positions.

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) have been given an average recommendation of "Reduce" by the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $279.25.

A number of analysts recently weighed in on the stock. BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a research note on Monday, June 16th. Wells Fargo & Company cut their target price on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Finally, BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th.

Insider Activity at Cable One

In related news, Director Wallace R. Weitz purchased 7,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were bought at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the completion of the purchase, the director directly owned 17,140 shares of the company's stock, valued at approximately $2,271,564.20. This trade represents a 69.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary E. Meduski purchased 250 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was bought at an average price of $148.00 per share, for a total transaction of $37,000.00. Following the completion of the purchase, the director directly owned 3,599 shares of the company's stock, valued at $532,652. The trade was a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 7,400 shares of company stock worth $984,342 over the last quarter. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently modified their holdings of CABO. DAVENPORT & Co LLC lifted its holdings in shares of Cable One by 249.2% during the second quarter. DAVENPORT & Co LLC now owns 242,962 shares of the company's stock worth $32,997,000 after purchasing an additional 173,384 shares during the period. Private Management Group Inc. lifted its holdings in shares of Cable One by 103.9% during the second quarter. Private Management Group Inc. now owns 311,131 shares of the company's stock worth $42,255,000 after purchasing an additional 158,564 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Cable One by 57.0% during the first quarter. Canada Pension Plan Investment Board now owns 323,300 shares of the company's stock worth $85,923,000 after purchasing an additional 117,389 shares during the period. Clarkston Capital Partners LLC lifted its holdings in shares of Cable One by 34.2% during the first quarter. Clarkston Capital Partners LLC now owns 357,192 shares of the company's stock worth $94,931,000 after purchasing an additional 90,934 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of Cable One by 27.2% during the first quarter. Burgundy Asset Management Ltd. now owns 402,403 shares of the company's stock worth $106,947,000 after purchasing an additional 86,019 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Cable One Trading Down 1.4%

NYSE:CABO traded down $2.26 on Monday, reaching $156.12. 125,989 shares of the company's stock were exchanged, compared to its average volume of 144,106. The business has a fifty day moving average of $142.77 and a 200-day moving average of $190.68. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. Cable One has a 52-week low of $117.54 and a 52-week high of $436.99. The firm has a market capitalization of $878.93 million, a price-to-earnings ratio of -1.77 and a beta of 0.81.

Cable One (NYSE:CABO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.23 earnings per share for the quarter, missing analysts' consensus estimates of $8.23 by ($5.00). Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%.The firm had revenue of $381.07 million for the quarter, compared to analysts' expectations of $379.81 million. During the same quarter in the previous year, the company posted $10.29 earnings per share. As a group, analysts expect that Cable One will post 32.08 earnings per share for the current year.

About Cable One

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.