Segall Bryant & Hamill LLC Acquires 27,178 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Segall Bryant & Hamill LLC lifted its holdings in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 12.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 249,087 shares of the communications equipment provider's stock after acquiring an additional 27,178 shares during the period. Segall Bryant & Hamill LLC owned approximately 1.75% of Clearfield worth $9,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in shares of Clearfield in the second quarter valued at about $75,000. Canada Pension Plan Investment Board acquired a new position in shares of Clearfield in the second quarter valued at about $85,000. SG Americas Securities LLC acquired a new stake in Clearfield during the second quarter worth about $130,000. Squarepoint Ops LLC acquired a new stake in Clearfield during the second quarter worth about $217,000. Finally, Moody National Bank Trust Division acquired a new stake in Clearfield during the second quarter worth about $252,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLFD has been the topic of a number of analyst reports. Roth Mkm reduced their price objective on shares of Clearfield from $47.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a research note on Tuesday. Lake Street Capital upgraded shares of Clearfield from a "hold" rating to a "buy" rating and increased their price objective for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, November 8th. Finally, Northland Securities raised their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearfield presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Price Performance

Shares of CLFD traded up $0.21 during mid-day trading on Friday, reaching $30.27. The company had a trading volume of 107,719 shares, compared to its average volume of 158,198. The company's 50 day simple moving average is $36.19 and its 200 day simple moving average is $37.60. Clearfield, Inc. has a 1-year low of $24.78 and a 1-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. The company has a market capitalization of $432.53 million, a price-to-earnings ratio of -35.25 and a beta of 1.35.

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

About Clearfield

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.