Clearfield (NASDAQ:CLFD) Given New $135.00 Price Target at Lake Street Capital

Clearfield (NASDAQ:CLFDGet Rating) had its target price raised by equities research analysts at Lake Street Capital from $122.00 to $135.00 in a research note issued on Friday, The Fly reports. Lake Street Capital’s target price points to a potential upside of 14.46% from the company’s previous close.

Several other analysts have also recently issued reports on CLFD. StockNews.com began coverage on Clearfield in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Northland Securities lifted their price objective on shares of Clearfield from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. Westpark Capital began coverage on shares of Clearfield in a report on Tuesday, September 13th. They set a “hold” rating on the stock. Finally, Needham & Company LLC lifted their price target on shares of Clearfield from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.75.

Clearfield Stock Performance

CLFD opened at $117.94 on Friday. The company has a market capitalization of $1.63 billion, a P/E ratio of 33.22 and a beta of 1.33. The company has a 50-day moving average of $100.87 and a 200-day moving average of $87.07. Clearfield has a 1-year low of $44.15 and a 1-year high of $130.01.

Insider Activity

In related news, Director Roger G. Harding sold 1,500 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $125.86, for a total value of $188,790.00. Following the sale, the director now owns 15,508 shares of the company’s stock, valued at approximately $1,951,836.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of Clearfield

Several hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its holdings in shares of Clearfield by 409.4% during the second quarter. Los Angeles Capital Management LLC now owns 32,977 shares of the communications equipment provider’s stock valued at $2,043,000 after purchasing an additional 26,503 shares during the period. Harvest Investment Services LLC increased its stake in Clearfield by 195.3% during the 1st quarter. Harvest Investment Services LLC now owns 10,414 shares of the communications equipment provider’s stock valued at $679,000 after buying an additional 6,887 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of Clearfield during the 2nd quarter worth about $4,191,000. Redwood Investments LLC lifted its stake in shares of Clearfield by 14.7% in the 2nd quarter. Redwood Investments LLC now owns 235,818 shares of the communications equipment provider’s stock worth $14,609,000 after acquiring an additional 30,218 shares during the period. Finally, Steward Financial Group LLC bought a new position in shares of Clearfield in the second quarter valued at approximately $61,000. Institutional investors own 48.06% of the company’s stock.

About Clearfield

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Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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