Clearfield (NASDAQ:CLFD) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD – Free Report) from a sell rating to a hold rating in a research note released on Thursday morning.

Several other brokerages have also commented on CLFD. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research report on Tuesday, September 24th. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and raised their price target for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. Northland Securities raised their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Roth Mkm reduced their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Clearfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

View Our Latest Analysis on CLFD

Clearfield Price Performance

Shares of NASDAQ:CLFD traded down $2.06 on Thursday, hitting $34.74. The company’s stock had a trading volume of 336,144 shares, compared to its average volume of 155,975. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. The company has a market capitalization of $494.70 million, a PE ratio of -55.66 and a beta of 1.35. The company has a 50-day simple moving average of $37.55 and a 200 day simple moving average of $37.61. Clearfield has a 1 year low of $23.45 and a 1 year high of $44.83.

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

Institutional Investors Weigh In On Clearfield

A number of large investors have recently made changes to their positions in CLFD. Divisadero Street Capital Management LP bought a new stake in shares of Clearfield in the 2nd quarter worth approximately $7,801,000. Dimensional Fund Advisors LP grew its position in shares of Clearfield by 83.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock worth $8,798,000 after buying an additional 103,648 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after purchasing an additional 27,178 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Clearfield in the 2nd quarter valued at approximately $835,000. Finally, Teton Advisors Inc. purchased a new position in shares of Clearfield in the 1st quarter valued at approximately $555,000. 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.

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