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

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD) from a sell rating to a hold rating in a research note published on Monday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Trading Down 3.4 %

CLFD opened at $32.98 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The stock’s 50 day moving average price is $34.28 and its 200-day moving average price is $35.72. Clearfield has a one year low of $27.06 and a one year high of $44.83. The stock has a market cap of $466.01 million, a price-to-earnings ratio of -52.35 and a beta of 1.28.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.29% and a negative net margin of 5.41%. On average, equities analysts forecast that Clearfield will post -0.33 EPS for the current year.

Insider Buying and Selling at Clearfield

In other news, Chairman Ronald G. Roth purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the completion of the purchase, the chairman now owns 1,266,796 shares in the company, valued at approximately $39,270,676. This represents a 0.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 17.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC lifted its position in shares of Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock worth $9,704,000 after purchasing an additional 27,178 shares during the period. SG Americas Securities LLC raised its stake in Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock worth $142,000 after buying an additional 279 shares in the last quarter. Creative Planning lifted its holdings in Clearfield by 0.5% during the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after buying an additional 511 shares during the period. Barclays PLC boosted its position in Clearfield by 164.2% during the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after acquiring an additional 54,670 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Clearfield in the 3rd quarter valued at $300,000. 88.73% of the stock is currently owned by institutional investors.

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.