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

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

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

Cable One Stock Down 4.5 %

Shares of CABO stock traded down $17.86 during trading hours on Friday, hitting $378.13. 162,639 shares of the company were exchanged, compared to its average volume of 106,573. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.69 and a current ratio of 1.69. Cable One has a one year low of $369.13 and a one year high of $749.00. The business’s 50-day simple moving average is $419.75 and its two-hundred day simple moving average is $500.69. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 8.37 and a beta of 0.80.

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

Insider Activity

In other news, insider Christopher D. Boone sold 204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now owns 1,854 shares of the company’s stock, valued at $852,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CABO. Bfsg LLC acquired a new position in Cable One in the fourth quarter worth about $28,000. Fifth Third Bancorp raised its position in Cable One by 87.5% in the first quarter. Fifth Third Bancorp now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 35 shares in the last quarter. Spire Wealth Management acquired a new position in Cable One in the fourth quarter worth about $46,000. Principal Securities Inc. acquired a new position in Cable One in the fourth quarter worth about $53,000. Finally, SRS Capital Advisors Inc. raised its position in Cable One by 43.0% in the third quarter. SRS Capital Advisors Inc. now owns 153 shares of the company’s stock worth $94,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds 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.