Wells Fargo & Company Trims Cable One (NYSE:CABO) Target Price to $350.00

Cable One (NYSE:CABO) had its price target trimmed by Wells Fargo & Company from $400.00 to $350.00 in a research note released on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. KeyCorp lowered their target price on shares of Cable One from $900.00 to $881.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. TD Cowen lowered their target price on shares of Cable One from $650.00 to $456.00 and set a hold rating on the stock in a research note on Friday. Finally, Moffett Nathanson upgraded shares of Cable One from a neutral rating to a buy rating and set a $615.00 target price on the stock in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $590.83.

Cable One Stock Performance

Shares of Cable One stock opened at $401.89 on Friday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 9.20 and a beta of 0.80. The firm’s 50-day moving average is $419.05 and its 200 day moving average is $497.13. Cable One has a 1 year low of $369.13 and a 1 year high of $749.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.86 and a quick ratio of 1.69.

Cable One (NYSE:CABO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $8.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.78 by ($2.67). The firm had revenue of $404.30 million during the quarter, compared to the consensus estimate of $408.79 million. Cable One had a return on equity of 12.76% and a net margin of 15.50%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.62 EPS. Sell-side analysts anticipate that Cable One will post 43.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher D. Boone sold 204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total value of $93,840.00. Following the completion of the sale, the insider now directly owns 1,854 shares of the company’s stock, valued at approximately $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in Cable One during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp grew its holdings in Cable One by 87.5% during the 1st quarter. Fifth Third Bancorp now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 35 shares in the last quarter. Spire Wealth Management purchased a new stake in Cable One during the 4th quarter valued at approximately $46,000. Principal Securities Inc. purchased a new stake in Cable One during the 4th quarter valued at approximately $53,000. Finally, SRS Capital Advisors Inc. grew its holdings in Cable One by 43.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 153 shares of the company’s stock valued at $94,000 after buying an additional 46 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Company Profile

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.