Cable One (NYSE:CABO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “

Several other brokerages have also commented on CABO. BidaskClub lowered shares of Cable One from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Wells Fargo & Co restated a “market perform” rating and issued a $741.00 price objective (up from $700.00) on shares of Cable One in a report on Thursday, January 4th. SunTrust Banks restated a “buy” rating and issued a $815.00 price objective on shares of Cable One in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. lowered shares of Cable One from a “neutral” rating to an “underweight” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $789.50.

Shares of Cable One (NYSE CABO) traded down $4.35 during mid-day trading on Monday, hitting $714.15. 12,300 shares of the stock traded hands, compared to its average volume of 33,944. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.34 and a current ratio of 1.34. Cable One has a 52-week low of $573.60 and a 52-week high of $788.00. The firm has a market cap of $4,090.00 and a price-to-earnings ratio of 34.87.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $5.48 EPS for the quarter, topping the consensus estimate of $5.20 by $0.28. Cable One had a net margin of 12.95% and a return on equity of 23.97%. The firm had revenue of $253.85 million for the quarter, compared to analyst estimates of $255.68 million. During the same period in the prior year, the business posted $3.63 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. analysts forecast that Cable One will post 22.14 EPS for the current fiscal year.

In related news, insider Thomas O. Might sold 6,288 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $681.20, for a total transaction of $4,283,385.60. Following the sale, the insider now directly owns 37,702 shares of the company’s stock, valued at approximately $25,682,602.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Thomas O. Might sold 2,793 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $676.44, for a total transaction of $1,889,296.92. Following the sale, the chairman now directly owns 37,702 shares in the company, valued at $25,503,140.88. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of Cable One by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock valued at $116,000 after purchasing an additional 36 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Cable One by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,757 shares of the company’s stock valued at $2,671,000 after purchasing an additional 37 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Cable One by 1.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,260 shares of the company’s stock valued at $1,607,000 after purchasing an additional 42 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Cable One by 7.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 754 shares of the company’s stock valued at $536,000 after purchasing an additional 54 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Cable One by 8.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 950 shares of the company’s stock valued at $675,000 after purchasing an additional 70 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/15/zacks-investment-research-downgrades-cable-one-cabo-to-sell.html.

About Cable One

Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.

Get a free copy of the Zacks research report on Cable One (CABO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cable One Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cable One and related companies with MarketBeat.com's FREE daily email newsletter.