Clearfield’s (CLFD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearfield (NASDAQ:CLFD) in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $50.00 price target on the communications equipment provider’s stock.

Separately, StockNews.com raised shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Clearfield has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Stock Performance

Shares of CLFD stock opened at $31.27 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. Clearfield has a one year low of $26.94 and a one year high of $44.83. The business’s 50 day simple moving average is $33.49 and its 200 day simple moving average is $34.17. The stock has a market capitalization of $441.91 million, a PE ratio of -49.63 and a beta of 1.26.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. As a group, research analysts forecast that Clearfield will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Clearfield

In other news, COO John P. Hill sold 16,539 shares of Clearfield stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the transaction, the chief operating officer now directly owns 189,886 shares in the company, valued at $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearfield

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in Clearfield by 2.5% during the 4th quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider’s stock worth $470,000 after purchasing an additional 366 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Clearfield by 2.7% during the third quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock worth $1,171,000 after buying an additional 794 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Clearfield by 340.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 906 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Clearfield by 3.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,488 shares of the communications equipment provider’s stock valued at $821,000 after acquiring an additional 960 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its stake in shares of Clearfield by 13.7% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,421 shares of the communications equipment provider’s stock worth $323,000 after acquiring an additional 1,254 shares in the last quarter. 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.