Optical Cable (NASDAQ:OCC) Stock Rating Upgraded by Wall Street Zen

Optical Cable (NASDAQ:OCC) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Zacks Research upgraded Optical Cable to a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Optical Cable Price Performance

Optical Cable stock opened at $14.62 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 0.77. The stock has a market cap of $129.24 million, a price-to-earnings ratio of 50.42 and a beta of 0.57. The firm has a 50-day moving average of $14.88 and a two-hundred day moving average of $13.15. Optical Cable has a 1 year low of $4.02 and a 1 year high of $27.98.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings data on Wednesday, September 9th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Optical Cable had a return on equity of 15.88% and a net margin of 3.10%.The company had revenue of $24.30 million for the quarter, compared to analysts’ expectations of $24.50 million. On average, research analysts forecast that Optical Cable will post 0.49 earnings per share for the current year.

Insider Buying and Selling at Optical Cable

In other news, CFO Tracy G. Smith sold 16,453 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the transaction, the chief financial officer owned 329,826 shares in the company, valued at $5,682,901.98. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 22.40% of the company’s stock.

Institutional Trading of Optical Cable

A number of institutional investors have recently bought and sold shares of OCC. Bank of New York Mellon Corp acquired a new position in Optical Cable during the 2nd quarter valued at approximately $216,000. Citadel Advisors LLC acquired a new stake in shares of Optical Cable during the third quarter worth $102,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Optical Cable during the fourth quarter valued at $57,000. Shikiar Asset Management Inc. grew its holdings in shares of Optical Cable by 14.4% during the first quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 3,550 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Optical Cable by 162.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 20,413 shares during the period. 13.61% of the stock is currently owned by institutional investors and hedge funds.

About Optical Cable

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.