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

Clearfield (NASDAQ:CLFD) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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

Clearfield Stock Performance

Shares of CLFD traded up $0.64 during midday trading on Tuesday, hitting $28.00. 261,732 shares of the stock traded hands, compared to its average volume of 158,185. The business’s 50 day moving average price is $36.72 and its two-hundred day moving average price is $37.77. The firm has a market capitalization of $398.72 million, a PE ratio of -32.94 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. Clearfield has a 1-year low of $24.78 and a 1-year high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The company had revenue of $46.80 million for 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%. Clearfield’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. Equities research analysts predict that Clearfield will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearfield

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Clearfield by 187.4% during the first quarter. BNP Paribas Financial Markets now owns 11,330 shares of the communications equipment provider’s stock worth $349,000 after buying an additional 7,388 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after acquiring an additional 14,307 shares in the last quarter. Teton Advisors Inc. acquired a new position in shares of Clearfield in the 1st quarter worth $555,000. Price T Rowe Associates Inc. MD raised its position in shares of Clearfield by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after purchasing an additional 510 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Clearfield by 2.3% during the first quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock valued at $1,047,000 after purchasing an additional 777 shares during the last quarter. 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.