Optical Cable (NASDAQ:OCC) Upgraded by Zacks Research to “Hold” Rating

Optical Cable (NASDAQ:OCC) was upgraded by analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

OCC has been the subject of several other research reports. Wall Street Zen cut shares of Optical Cable from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Optical Cable Trading Up 5.4%

NASDAQ:OCC opened at $13.84 on Wednesday. Optical Cable has a 1 year low of $4.02 and a 1 year high of $27.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08. The stock has a fifty day moving average price of $16.09 and a two-hundred day moving average price of $12.55. The stock has a market capitalization of $122.21 million, a price-to-earnings ratio of 115.34 and a beta of 0.55.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. The company had revenue of $22.21 million for the quarter. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts anticipate that Optical Cable will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total transaction 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. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OCC. Gendell Jeffrey L increased its position in shares of Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after buying an additional 133,510 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Optical Cable by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock worth $1,197,000 after buying an additional 4,497 shares in the last quarter. Royal Bank of Canada grew its stake in Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after acquiring an additional 9,535 shares during the last quarter. Sei Investments Co. acquired a new stake in Optical Cable in the 1st quarter valued at about $754,000. Finally, Two Sigma Investments LP purchased a new position in Optical Cable during the 3rd quarter valued at about $487,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

About Optical Cable

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.