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 research report issued on Tuesday.

CLFD has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, November 8th. Northland Securities raised their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and raised their price objective for the company from $31.00 to $47.00 in a research report on Friday, August 2nd. Finally, Roth Mkm reduced their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Price Performance

Shares of CLFD opened at $29.18 on Tuesday. The firm has a 50-day simple moving average of $36.52 and a two-hundred day simple moving average of $37.72. Clearfield has a 1-year low of $24.78 and a 1-year high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69. The stock has a market cap of $415.52 million, a PE ratio of -32.94 and a beta of 1.35.

Clearfield (NASDAQ:CLFD) last announced 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. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $41.95 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts forecast that Clearfield will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 valued at $31,223,000 after buying an additional 14,307 shares during the period. Segall Bryant & Hamill LLC boosted its position in Clearfield by 12.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock worth $9,704,000 after acquiring an additional 27,178 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Clearfield by 83.2% in the second quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock worth $8,798,000 after purchasing an additional 103,648 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Clearfield during the 2nd quarter valued at about $7,801,000. Finally, Creative Planning lifted its position in Clearfield by 0.5% in the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after purchasing an additional 511 shares during the period. 88.73% of the stock is currently owned by hedge funds and other 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.