Clearfield’s (CLFD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearfield (NASDAQ:CLFDFree Report) in a report issued on Friday morning,Benzinga reports. They currently have a $50.00 target price on the communications equipment provider’s stock.

A number of other equities analysts have also recently commented on the company. Northland Securities lifted their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Roth Mkm reduced their target price on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Clearfield presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Check Out Our Latest Analysis on CLFD

Clearfield Stock Down 7.1 %

Shares of NASDAQ:CLFD traded down $2.60 during midday trading on Friday, reaching $34.20. The company had a trading volume of 460,383 shares, compared to its average volume of 156,548. The company has a quick ratio of 5.73, a current ratio of 8.38 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $37.49 and its 200 day moving average price is $37.65. The stock has a market cap of $486.94 million, a PE ratio of -40.24 and a beta of 1.35. Clearfield has a 1-year low of $23.45 and a 1-year high of $44.83.

Clearfield (NASDAQ:CLFDGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts forecast that Clearfield will post -0.98 EPS for the current fiscal year.

Institutional Trading of Clearfield

Several institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in Clearfield in the 2nd quarter valued at about $75,000. Canada Pension Plan Investment Board bought a new position in Clearfield in the 2nd quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in shares of Clearfield during the second quarter worth $130,000. Squarepoint Ops LLC acquired a new position in shares of Clearfield during the second quarter worth $217,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Clearfield by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after purchasing an additional 510 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

About Clearfield

(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.

Recommended Stories

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