Clearfield (NASDAQ:CLFD - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.
Separately, Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Clearfield in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.75.
View Our Latest Research Report on CLFD
Clearfield Price Performance
Shares of NASDAQ CLFD traded up $1.05 during mid-day trading on Friday, reaching $30.61. The company had a trading volume of 133,053 shares, compared to its average volume of 156,283. The firm has a market cap of $437.42 million, a price-to-earnings ratio of -36.01 and a beta of 1.28. The business's 50-day simple moving average is $34.27 and its 200 day simple moving average is $37.15. Clearfield has a one year low of $24.78 and a one year high of $44.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43.
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. 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 analyst estimates of $41.95 million. During the same period last year, the firm earned $0.17 EPS. The business's quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts predict that Clearfield will post -0.05 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Chairman Ronald G. Roth bought 5,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average cost of $31.00 per share, with a total value of $155,000.00. Following the transaction, the chairman now directly owns 1,266,796 shares in the company, valued at approximately $39,270,676. This trade represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.00% of the stock is owned by corporate insiders.
Institutional Trading of Clearfield
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Clearfield by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider's stock worth $31,223,000 after purchasing an additional 14,307 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Clearfield during the 2nd quarter worth approximately $835,000. Creative Planning increased its stake in shares of Clearfield by 2.5% in the 2nd quarter. Creative Planning now owns 98,088 shares of the communications equipment provider's stock valued at $3,782,000 after acquiring an additional 2,426 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Clearfield by 83.2% during 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 during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in Clearfield by 12.2% during the third 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 in the last quarter. Institutional investors own 88.73% of the company's stock.
About Clearfield
(
Get Free Report)
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.
Further Reading
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