Cable One (NYSE:CABO) Given New $350.00 Price Target at Wells Fargo & Company

Cable One (NYSE:CABO) had its price objective dropped by equities researchers at Wells Fargo & Company from $400.00 to $350.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 7.44% from the company’s current price.

Several other equities analysts also recently weighed in on CABO. Moffett Nathanson raised Cable One from a “neutral” rating to a “buy” rating and set a $615.00 target price on the stock in a research report on Tuesday, March 5th. TD Cowen cut their target price on Cable One from $650.00 to $456.00 and set a “hold” rating on the stock in a research report on Friday. Finally, KeyCorp dropped their price objective on Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $590.83.

Cable One Stock Down 4.5 %

Shares of NYSE:CABO traded down $17.86 on Friday, hitting $378.13. 162,639 shares of the company traded hands, compared to its average volume of 106,573. Cable One has a 52 week low of $369.13 and a 52 week high of $749.00. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94. The stock has a 50 day simple moving average of $419.75 and a 200-day simple moving average of $500.69. The company has a market cap of $2.13 billion, a PE ratio of 8.37 and a beta of 0.80.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $8.11 earnings per share for the quarter, missing analysts’ consensus estimates of $10.78 by ($2.67). Cable One had a net margin of 15.94% and a return on equity of 13.65%. The company had revenue of $404.30 million for the quarter, compared to analysts’ expectations of $408.79 million. During the same period in the previous year, the firm earned $9.62 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, research analysts expect that Cable One will post 43.36 earnings per share for the current year.

Insider Activity

In other news, insider Christopher D. Boone sold 204 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total value of $93,840.00. Following the transaction, the insider now owns 1,854 shares in the company, valued at $852,840. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cable One

Hedge funds and other institutional investors have recently made changes to their positions in the company. Markel Group Inc. increased its holdings in shares of Cable One by 8.8% in the first quarter. Markel Group Inc. now owns 48,100 shares of the company’s stock valued at $20,353,000 after purchasing an additional 3,900 shares during the last quarter. FORA Capital LLC purchased a new position in Cable One in the first quarter valued at $916,000. Nordea Investment Management AB purchased a new position in Cable One in the first quarter valued at $8,695,000. Palisade Asset Management LLC purchased a new position in Cable One in the first quarter valued at $181,000. Finally, Capstone Investment Advisors LLC boosted its holdings in Cable One by 87.9% in the first quarter. Capstone Investment Advisors LLC now owns 3,730 shares of the company’s stock valued at $1,578,000 after purchasing an additional 1,745 shares during the period. Hedge funds and other 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.