Clearfield (NASDAQ:CLFD) Rating Lowered to Sell at StockNews.com

Clearfield (NASDAQ:CLFD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other analysts also recently issued reports on the company. Roth Mkm dropped their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Northland Securities boosted their price target on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Tuesday, September 24th. 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 report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearfield has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Trading Up 0.4 %

Shares of Clearfield stock opened at $38.61 on Wednesday. The company’s 50-day moving average price is $37.84 and its 200-day moving average price is $37.14. The company has a current ratio of 8.38, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01. Clearfield has a 12-month low of $22.91 and a 12-month high of $44.83. The company has a market cap of $549.54 million, a price-to-earnings ratio of -154.44 and a beta of 1.34.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.30. The firm had revenue of $48.79 million during the quarter, compared to the consensus estimate of $42.13 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The business’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. On average, equities analysts expect that Clearfield will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Clearfield

In other news, Director Walter Louis Jones, Jr. purchased 1,324 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $37.77 per share, with a total value of $50,007.48. Following the transaction, the director now directly owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Clearfield

Large investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC purchased a new stake in Clearfield in the second quarter worth about $75,000. Canada Pension Plan Investment Board purchased a new position in shares of Clearfield in the 2nd quarter valued at approximately $85,000. SG Americas Securities LLC purchased a new stake in Clearfield in the second quarter worth $130,000. Squarepoint Ops LLC bought a new position in Clearfield in the second quarter worth $217,000. Finally, Moody National Bank Trust Division bought a new position in Clearfield in the second quarter worth $252,000. 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.