Clearfield (NASDAQ:CLFD) Lowered to Sell Rating by StockNews.com

Clearfield (NASDAQ:CLFD - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Separately, Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Price Performance

Shares of CLFD traded down $0.18 during mid-day trading on Friday, hitting $34.49. 83,698 shares of the company traded hands, compared to its average volume of 87,716. The stock has a market capitalization of $492.83 million, a price-to-earnings ratio of -40.58 and a beta of 1.27. Clearfield has a one year low of $24.78 and a one year high of $44.83. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $31.85 and a 200 day moving average of $36.07.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. The business had revenue of $46.80 million for the quarter, compared to analysts' expectations of $41.95 million. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The firm's quarterly 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. As a group, equities analysts expect that Clearfield will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Ronald G. Roth purchased 5,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $31.00 per share, with a total value of $155,000.00. Following the acquisition, the chairman now directly owns 1,266,796 shares of the company's stock, valued at approximately $39,270,676. This represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.00% of the stock is currently owned by company 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 boosted its holdings in shares of 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 buying an additional 27,178 shares during the period. Dimensional Fund Advisors LP lifted its position in Clearfield by 83.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider's stock valued at $8,798,000 after acquiring an additional 103,648 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Clearfield in the 2nd quarter worth $7,801,000. Creative Planning increased its holdings in Clearfield by 0.5% during the 3rd 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after purchasing an additional 54,670 shares during the period. 88.73% of the stock is currently owned by 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.