Needham & Company LLC Reaffirms "Buy" Rating for Clearfield (NASDAQ:CLFD)

Needham & Company LLC restated their buy rating on shares of Clearfield (NASDAQ:CLFD - Free Report) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $50.00 price objective on the communications equipment provider's stock.

Other equities analysts have also recently issued reports about the company. Roth Mkm lowered their price target on Clearfield from $47.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Northland Securities upped their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Lake Street Capital raised shares of Clearfield from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Clearfield has an average rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Trading Down 7.1 %

Shares of NASDAQ:CLFD traded down $2.60 on Friday, hitting $34.20. The company's stock had a trading volume of 460,383 shares, compared to its average volume of 91,198. Clearfield has a 12 month low of $23.45 and a 12 month high of $44.83. The stock's 50-day moving average is $37.49 and its two-hundred day moving average is $37.65. The company has a current ratio of 8.38, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The firm had revenue of $46.80 million for the quarter, compared to analysts' expectations of $41.95 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. Clearfield's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. Equities research analysts forecast that Clearfield will post -0.98 earnings per share for the current year.

Institutional Trading of Clearfield

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Divisadero Street Capital Management LP purchased a new position in shares of Clearfield in the second quarter worth approximately $7,801,000. Dimensional Fund Advisors LP lifted its holdings 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 valued at $8,798,000 after purchasing an additional 103,648 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position 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 worth $9,704,000 after buying an additional 27,178 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Clearfield during the second quarter valued at $835,000. Finally, Teton Advisors Inc. acquired a new position in Clearfield during the first quarter valued at $555,000. Institutional investors and hedge funds own 88.73% of the company's stock.

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.