Cable One (NYSE:CABO) Stock Price Up 8.2% – Here’s Why

Shares of Cable One, Inc. (NYSE:CABO) traded up 8.2% during trading on Thursday . The stock traded as high as $96.74 and last traded at $96.91. 56,912 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 158,235 shares. The stock had previously closed at $89.56.

Wall Street Analysts Forecast Growth

CABO has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, January 21st. TD Cowen dropped their target price on shares of Cable One from $260.00 to $142.00 and set a “hold” rating for the company in a research report on Friday, February 27th. Zacks Research upgraded shares of Cable One from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Wells Fargo & Company decreased their price objective on shares of Cable One from $107.00 to $90.00 and set an “underweight” rating on the stock in a research note on Friday, February 27th. Finally, BNP Paribas Exane lowered shares of Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 price objective for the company. in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $114.25.

Cable One Stock Performance

The company has a market capitalization of $546.90 million, a P/E ratio of -1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $99.24 and its two-hundred day simple moving average is $120.70.

Cable One (NYSE:CABO) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $7.60 by ($8.95). The company had revenue of $363.74 million for the quarter, compared to the consensus estimate of $368.59 million. Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. As a group, research analysts expect that Cable One, Inc. will post 32.08 earnings per share for the current year.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently made changes to their positions in CABO. EverSource Wealth Advisors LLC raised its position in shares of Cable One by 180.0% during the third quarter. EverSource Wealth Advisors LLC now owns 140 shares of the company’s stock worth $25,000 after acquiring an additional 90 shares during the last quarter. AlphaQuest LLC boosted its holdings in Cable One by 9.2% in the third quarter. AlphaQuest LLC now owns 1,218 shares of the company’s stock valued at $216,000 after acquiring an additional 103 shares during the last quarter. Federated Hermes Inc. increased its position in Cable One by 11.5% in the third quarter. Federated Hermes Inc. now owns 1,117 shares of the company’s stock worth $198,000 after purchasing an additional 115 shares during the period. Hantz Financial Services Inc. raised its holdings in Cable One by 107.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $45,000 after purchasing an additional 132 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Cable One by 0.3% during the 4th quarter. Public Sector Pension Investment Board now owns 48,580 shares of the company’s stock valued at $5,482,000 after purchasing an additional 132 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Cable One Company Profile

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.