Clearfield, Inc. (NASDAQ:CLFD) Chairman Purchases $155,000.00 in Stock

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) Chairman Ronald G. Roth bought 5,000 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the transaction, the chairman now owns 1,266,796 shares of the company's stock, valued at approximately $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Clearfield Trading Up 3.6 %

CLFD stock traded up $1.05 during trading on Friday, hitting $30.61. The company had a trading volume of 133,053 shares, compared to its average volume of 173,236. The stock has a market cap of $437.42 million, a PE ratio of -36.01 and a beta of 1.28. The business has a 50-day moving average of $34.27 and a 200-day moving average of $37.16. 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, Inc. has a one year low of $24.78 and a one year high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same quarter in the previous year, the company earned $0.17 EPS. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts predict that Clearfield, Inc. will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com raised Clearfield from a "sell" rating to a "hold" rating in a report on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Institutional Trading of Clearfield

Large investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP acquired a new stake in shares of Clearfield during the 2nd quarter worth approximately $7,801,000. Dimensional Fund Advisors LP grew its holdings in 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 during the period. Barclays PLC grew its holdings in Clearfield by 164.2% in the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock worth $3,428,000 after purchasing an additional 54,670 shares during the period. Segall Bryant & Hamill LLC increased its stake in Clearfield by 12.2% in the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider's stock valued at $9,704,000 after purchasing an additional 27,178 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Clearfield during the second quarter valued at about $835,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.