Optical Cable (NASDAQ:OCC) Rating Increased to Strong-Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Optical Cable (NASDAQ:OCC – Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

Several other research analysts also recently issued reports on OCC. Zacks Research upgraded shares of 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 assigned a Sell rating to the stock. According to MarketBeat.com, Optical Cable presently has an average rating of “Reduce”.

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Optical Cable Trading Up 2.4%

Shares of OCC stock opened at $14.62 on Friday. The firm has a market capitalization of $129.24 million, a P/E ratio of 50.42 and a beta of 0.57. Optical Cable has a 1 year low of $4.02 and a 1 year high of $27.98. The firm’s fifty day simple moving average is $14.88 and its 200 day simple moving average is $13.10. The company has a current ratio of 2.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

Optical Cable (NASDAQ:OCC – Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $24.30 million during the quarter, compared to the consensus estimate of $24.50 million. Optical Cable had a net margin of 3.10% and a return on equity of 15.88%. As a group, sell-side analysts predict that Optical Cable will post 0.49 EPS 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 that occurred on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following the sale, the chief financial officer directly owned 329,826 shares in the company, valued at approximately $5,682,901.98. This represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Optical Cable

Institutional investors have recently bought and sold shares of the stock. Round Rock Advisors LLC grew its position in Optical Cable by 88.5% in the second quarter. Round Rock Advisors LLC now owns 58,937 shares of the communications equipment provider’s stock valued at $1,236,000 after acquiring an additional 27,665 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Optical Cable during the second quarter valued at $216,000. Sei Investments Co. acquired a new stake in shares of Optical Cable in the 1st quarter valued at $754,000. Shikiar Asset Management Inc. boosted its stake in shares of Optical Cable by 14.4% in the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Optical Cable by 46.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 15,255 shares during the last quarter. Institutional investors and hedge funds own 13.61% of the company’s stock.

About Optical Cable

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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.

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