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

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

Several other research analysts have also commented on the company. 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. Roth Mkm dropped their target price 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 increased their price target on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Trading Up 1.0 %

Shares of Clearfield stock opened at $30.90 on Wednesday. The stock has a 50 day moving average of $35.64 and a 200 day moving average of $37.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The firm has a market capitalization of $441.53 million, a price-to-earnings ratio of -36.35 and a beta of 1.35. Clearfield has a fifty-two week low of $24.78 and a fifty-two week high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results 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 business had revenue of $46.80 million during the quarter, compared to analysts’ expectations of $41.95 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts predict that Clearfield will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Clearfield by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock valued at $31,223,000 after acquiring an additional 14,307 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Clearfield in the 2nd quarter valued at approximately $835,000. Creative Planning raised its holdings in shares of Clearfield by 2.5% in the 2nd quarter. Creative Planning now owns 98,088 shares of the communications equipment provider’s stock valued at $3,782,000 after purchasing an additional 2,426 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Clearfield by 83.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock worth $8,798,000 after purchasing an additional 103,648 shares during the last quarter. Finally, Select Equity Group L.P. acquired a new position in shares of Clearfield during the second quarter worth $453,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Clearfield Company Profile

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.