Clearfield (NASDAQ:CLFD) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD) from a sell rating to a hold rating in a research report released on Tuesday.

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

Clearfield Price Performance

Shares of CLFD opened at $30.27 on Tuesday. The firm has a market cap of $432.53 million, a PE ratio of -35.25 and a beta of 1.35. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $36.19 and a two-hundred day simple moving average of $37.60. Clearfield has a 1-year low of $24.78 and a 1-year high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its 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. The business had revenue of $46.80 million during the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, equities analysts anticipate that Clearfield will post -0.05 EPS for the current year.

Institutional Trading of Clearfield

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Clearfield in the 3rd quarter worth $53,000. Redwood Wealth Management Group LLC purchased a new stake in Clearfield in the 2nd quarter worth $75,000. Truvestments Capital LLC purchased a new stake in Clearfield in the 3rd quarter worth $80,000. Canada Pension Plan Investment Board purchased a new stake in Clearfield in the 2nd quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Clearfield during the 2nd quarter valued at about $130,000. 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.