Cable One (NYSE:CABO) Stock Crosses Below 200 Day Moving Average – Here’s Why

Cable One, Inc. (NYSE:CABO)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $75.24 and traded as low as $38.44. Cable One shares last traded at $39.7620, with a volume of 188,725 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on CABO. TD Cowen cut their target price on Cable One from $142.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. BNP Paribas Exane upgraded Cable One from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $40.00 in a report on Tuesday, July 14th. Zacks Research raised Cable One from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Wells Fargo & Company reduced their target price on Cable One from $90.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cable One in a research report on Friday, July 17th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $91.50.

Cable One Price Performance

The firm has a market capitalization of $227.58 million, a P/E ratio of -0.69 and a beta of 0.53. The stock’s 50 day simple moving average is $44.54 and its 200 day simple moving average is $74.99. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.75 and a current ratio of 1.75.

Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $6.12 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($1.65). Cable One had a negative net margin of 21.94% and a positive return on equity of 5.36%. The company had revenue of $352.96 million for the quarter, compared to the consensus estimate of $359.59 million. As a group, analysts expect that Cable One, Inc. will post 29.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently made changes to their positions in CABO. AQR Capital Management LLC increased its stake in shares of Cable One by 172.6% during the first quarter. AQR Capital Management LLC now owns 16,947 shares of the company’s stock valued at $4,482,000 after buying an additional 10,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cable One by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,361 shares of the company’s stock worth $893,000 after acquiring an additional 151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cable One by 16.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,268 shares of the company’s stock worth $4,589,000 after acquiring an additional 2,467 shares in the last quarter. Creative Planning increased its position in Cable One by 59.7% during the 2nd quarter. Creative Planning now owns 3,238 shares of the company’s stock valued at $440,000 after purchasing an additional 1,210 shares during the period. Finally, Federated Hermes Inc. increased its position in Cable One by 16,600.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,002 shares of the company’s stock valued at $136,000 after purchasing an additional 996 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.