Cable One (NYSE:CABO) Shares Gap Down – What’s Next?

Cable One, Inc. (NYSE:CABO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $94.83, but opened at $88.73. Cable One shares last traded at $92.6710, with a volume of 7,758 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CABO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, January 21st. TD Cowen cut their target price on Cable One from $260.00 to $142.00 and set a “hold” rating for the company in a research report on Friday, February 27th. Wells Fargo & Company lowered their price target on Cable One from $107.00 to $90.00 and set an “underweight” rating on the stock in a research report on Friday, February 27th. Zacks Research raised Cable One from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, BNP Paribas Exane cut Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 target price for the company. in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $114.25.

Cable One Stock Performance

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 firm has a market capitalization of $514.89 million, a PE ratio of -1.42 and a beta of 0.70. The firm has a fifty day moving average price of $98.56 and a 200 day moving average price of $121.59.

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

Institutional Trading of Cable One

Several large investors have recently made changes to their positions in CABO. Baupost Group LLC MA acquired a new position in Cable One in the 3rd quarter valued at $12,068,000. Burgundy Asset Management Ltd. grew its position in shares of Cable One by 18.0% in the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock valued at $64,473,000 after purchasing an additional 72,327 shares during the last quarter. Private Management Group Inc. increased its stake in shares of Cable One by 1.4% in the fourth quarter. Private Management Group Inc. now owns 320,620 shares of the company’s stock worth $36,182,000 after purchasing an additional 4,375 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Cable One by 11.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 271,723 shares of the company’s stock worth $48,109,000 after purchasing an additional 28,761 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cable One by 20.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 147,470 shares of the company’s stock valued at $16,642,000 after purchasing an additional 25,191 shares during the period. Institutional investors own 89.92% of the company’s stock.

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.