Clearfield (NASDAQ:CLFD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFDFree Report) to a sell rating in a research note released on Friday morning.

Several other research analysts also recently commented on the company. Roth Mkm reiterated a buy rating and set a $47.00 target price on shares of Clearfield in a research note on Wednesday, May 1st. Needham & Company LLC reiterated a buy rating and set a $42.00 target price on shares of Clearfield in a research note on Thursday, May 16th. Finally, Northland Securities upgraded Clearfield from a market perform rating to an outperform rating and lifted their target price for the stock from $25.00 to $40.00 in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Clearfield has a consensus rating of Hold and an average target price of $43.50.

Read Our Latest Stock Analysis on Clearfield

Clearfield Stock Up 0.6 %

CLFD stock opened at $37.53 on Friday. The business has a 50 day moving average price of $35.46 and a two-hundred day moving average price of $31.18. The company has a market cap of $534.05 million, a price-to-earnings ratio of -150.12 and a beta of 1.36. Clearfield has a twelve month low of $22.91 and a twelve month high of $49.64.

Clearfield (NASDAQ:CLFDGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.13. The firm had revenue of $36.90 million during the quarter, compared to the consensus estimate of $31.25 million. Clearfield had a negative return on equity of 1.08% and a negative net margin of 1.79%. The business’s revenue was down 43.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. On average, equities research analysts anticipate that Clearfield will post -1.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Ronald G. Roth purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $36.40 per share, with a total value of $72,800.00. Following the acquisition, the chairman now owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new position in shares of Clearfield during the 4th quarter worth $25,000. Parkside Financial Bank & Trust grew its position in Clearfield by 134.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 648 shares during the last quarter. Victory Capital Management Inc. grew its position in Clearfield by 70.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock worth $61,000 after acquiring an additional 860 shares during the last quarter. CWM LLC grew its position in Clearfield by 28.1% during the 4th quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 644 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Clearfield by 11.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,712 shares of the communications equipment provider’s stock worth $108,000 after acquiring an additional 389 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Clearfield Company Profile

(Get Free Report)

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.

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