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

Clearfield (NASDAQ:CLFD) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Separately, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Clearfield currently has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Price Performance

Shares of CLFD stock traded up $1.21 on Friday, reaching $33.22. The company’s stock had a trading volume of 80,168 shares, compared to its average volume of 80,684. The company has a market capitalization of $474.68 million, a price-to-earnings ratio of -39.08 and a beta of 1.28. The stock’s fifty day simple moving average is $32.04 and its 200-day simple moving average is $36.19. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. Clearfield has a 1 year low of $24.78 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The business had revenue of $46.80 million during the quarter, compared to analysts’ expectations of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Analysts forecast that Clearfield will post -0.16 earnings per share for the current fiscal year.

Insider Activity at Clearfield

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 shares were bought at an average price of $31.00 per share, with a total value of $155,000.00. Following the transaction, the chairman now directly owns 1,266,796 shares of the company’s stock, valued at $39,270,676. The trade was a 0.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 16.00% of the stock is currently owned by insiders.

Institutional Trading of Clearfield

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in Clearfield in the 3rd quarter worth about $53,000. Redwood Wealth Management Group LLC bought a new position in Clearfield in the 2nd quarter worth about $75,000. Truvestments Capital LLC purchased a new position in shares of Clearfield during the third quarter worth approximately $80,000. Canada Pension Plan Investment Board bought a new stake in shares of Clearfield during the second quarter valued at approximately $85,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after purchasing an additional 279 shares during the period. 88.73% of the stock is currently owned by institutional investors.

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.