Clearfield (NASDAQ:CLFD - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $50.00 price target on the communications equipment provider's stock. Needham & Company LLC's price target indicates a potential upside of 67.06% from the company's current price.
Separately, StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.
Check Out Our Latest Stock Report on Clearfield
Clearfield Stock Down 2.0 %
Shares of Clearfield stock traded down $0.60 on Wednesday, hitting $29.93. The company had a trading volume of 60,450 shares, compared to its average volume of 129,747. Clearfield has a twelve month low of $26.94 and a twelve month high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. The stock has a 50-day moving average of $33.17 and a 200-day moving average of $34.06. The firm has a market capitalization of $422.97 million, a P/E ratio of -47.51 and a beta of 1.26.
Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Research analysts predict that Clearfield will post -0.29 earnings per share for the current year.
Insider Buying and Selling at Clearfield
In related news, COO John P. Hill sold 16,539 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.80% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Clearfield by 164.2% during 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. SG Americas Securities LLC raised its holdings in Clearfield by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after acquiring an additional 1,656 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Clearfield by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider's stock valued at $1,171,000 after acquiring an additional 794 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Clearfield during the 3rd quarter worth $53,000. Finally, Drum Hill Capital LLC bought a new position in shares of Clearfield in the fourth quarter worth $1,539,000. Institutional investors own 88.73% of the company's stock.
About Clearfield
(
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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.
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