Clearfield’s (CLFD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Clearfield (NASDAQ:CLFD) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $50.00 price target on the communications equipment provider’s stock.

Separately, StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and four have given 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 Stock Performance

Shares of Clearfield stock opened at $31.27 on Wednesday. Clearfield has a 12 month low of $26.94 and a 12 month high of $44.83. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $441.91 million, a PE ratio of -49.63 and a beta of 1.26. The stock’s fifty day simple moving average is $33.49 and its 200 day simple moving average is $34.17.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. On average, research analysts predict that Clearfield will post -0.29 EPS for the current year.

Insider Activity

In related news, COO John P. Hill sold 16,539 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the transaction, the chief operating officer now directly owns 189,886 shares of the company’s stock, valued at approximately $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearfield

Several hedge funds have recently bought and sold shares of CLFD. ACK Asset Management LLC raised its position in Clearfield by 3.6% during the fourth quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider’s stock valued at $22,320,000 after purchasing an additional 25,000 shares in the last quarter. Royce & Associates LP lifted its position in shares of Clearfield by 3.1% during the 4th quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider’s stock worth $14,843,000 after buying an additional 14,464 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Clearfield by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider’s stock valued at $9,994,000 after buying an additional 48,730 shares in the last quarter. Marshall Wace LLP grew its position in Clearfield by 13.1% in the fourth quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider’s stock valued at $5,418,000 after acquiring an additional 20,269 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Clearfield by 9.1% during the fourth quarter. Northern Trust Corp now owns 125,677 shares of the communications equipment provider’s stock worth $3,896,000 after acquiring an additional 10,476 shares in the last quarter. 88.73% of the stock is 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.