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

StockNews.com downgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a research report report published on Saturday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Clearfield in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Clearfield presently has an average rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Trading Down 0.1 %

CLFD stock opened at $34.45 on Friday. Clearfield has a one year low of $24.78 and a one year high of $44.83. The stock has a market cap of $492.26 million, a price-to-earnings ratio of -40.53 and a beta of 1.27. The company has a fifty day moving average price of $31.83 and a two-hundred day moving average price of $36.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company had revenue of $46.80 million during the quarter, compared to analysts’ expectations of $41.95 million. During the same quarter last year, the company posted $0.17 EPS. Clearfield’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts anticipate that Clearfield will post -0.16 EPS for the current year.

Insider Buying and Selling

In other Clearfield news, Chairman Ronald G. Roth acquired 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $31.00 per share, with a total value of $155,000.00. Following the acquisition, the chairman now directly owns 1,266,796 shares of the company’s stock, valued at approximately $39,270,676. This trade represents a 0.40 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearfield

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in shares of Clearfield during the 3rd quarter worth $53,000. Redwood Wealth Management Group LLC bought a new stake in Clearfield during the second quarter worth about $75,000. Truvestments Capital LLC acquired a new stake in Clearfield during the third quarter worth about $80,000. Canada Pension Plan Investment Board acquired a new stake in Clearfield during the second quarter worth about $85,000. Finally, SG Americas Securities LLC increased its holdings in Clearfield by 8.3% in the 3rd quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 279 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.