StockNews.com Upgrades Clearfield (NASDAQ:CLFD) to “Hold”

Clearfield (NASDAQ:CLFD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other analysts also recently commented on the stock. Roth Mkm dropped their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Northland Securities lifted their price objective on Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. Finally, Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and lifted their target price for the company from $31.00 to $47.00 in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Stock Performance

Shares of Clearfield stock opened at $29.18 on Tuesday. The firm has a market capitalization of $415.52 million, a P/E ratio of -32.94 and a beta of 1.35. Clearfield has a 52 week low of $24.78 and a 52 week high of $44.83. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $36.52 and a 200 day moving average price of $37.72.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. 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 previous year, the company earned $0.17 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts expect that Clearfield will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after buying an additional 54,670 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Clearfield by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock valued at $1,171,000 after purchasing an additional 794 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Clearfield during the 3rd quarter worth $53,000. Truvestments Capital LLC purchased a new stake in shares of Clearfield during the third quarter worth $80,000. Finally, Segall Bryant & Hamill LLC raised its position in shares of Clearfield by 12.2% in the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after buying an additional 27,178 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

About Clearfield

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.