Cable One (NYSE:CABO) Stock Price Up 9% - Should You Buy?

Key Points

• Cable One's stock price increased by 9%, trading last at $173.00 after reaching a high of $170.61 during mid-day on Thursday.
• The company's recent earnings report revealed missed EPS estimates, reporting $3.23 versus a consensus of $8.23, with revenue slightly above expectations at $381.07 million.
• Analyst ratings for Cable One vary, with a recent upgrade from BNP Paribas Exane but mixed sentiment overall, as five analysts rated it a Hold and one issued a Sell rating.

Cable One, Inc. (NYSE:CABO - Get Free Report)'s stock price rose 9% during mid-day trading on Thursday . The company traded as high as $170.61 and last traded at $173.00. Approximately 49,350 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 183,282 shares. The stock had previously closed at $158.71.

Analyst Upgrades and Downgrades

CABO has been the subject of several recent analyst reports. BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price for the company in a research note on Monday, June 16th. Wells Fargo & Company reduced their price objective on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Finally, BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $279.25.

Cable One Stock Performance

The stock has a market cap of $999.40 million, a price-to-earnings ratio of -2.01 and a beta of 0.81. The company's fifty day simple moving average is $145.49 and its two-hundred day simple moving average is $186.42. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37.

Cable One (NYSE:CABO - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $3.23 EPS for the quarter, missing the consensus estimate 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 business had revenue of $381.07 million for the quarter, compared to the consensus estimate of $379.81 million. During the same period in the previous year, the firm earned $10.29 earnings per share. On average, analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current year.

Insider Transactions at Cable One

In other news, Director Wallace R. Weitz bought 7,000 shares of Cable One stock in a transaction dated Friday, June 13th. The stock was purchased at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the purchase, the director directly owned 17,140 shares in the company, valued at $2,271,564.20. The trade was a 69.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cable One

Several institutional investors have recently added to or reduced their stakes in CABO. Squarepoint Ops LLC purchased a new stake in Cable One during the second quarter worth about $1,816,000. State of Wyoming purchased a new stake in shares of Cable One during the 2nd quarter worth approximately $50,000. Public Sector Pension Investment Board raised its holdings in shares of Cable One by 4.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 47,120 shares of the company's stock worth $6,399,000 after purchasing an additional 1,956 shares during the period. FORA Capital LLC purchased a new position in Cable One in the second quarter valued at approximately $491,000. Finally, Headlands Technologies LLC bought a new position in Cable One during the second quarter valued at $104,000. Institutional investors own 89.92% of the company's stock.

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.

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