Clearfield (NASDAQ:CLFD) Upgraded at StockNews.com

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD – Get Rating) from a sell rating to a hold rating in a report issued on Tuesday morning.

A number of other analysts also recently issued reports on CLFD. Cowen lowered their target price on Clearfield from $141.00 to $114.00 and set an outperform rating on the stock in a research report on Friday, February 3rd. Northland Securities reduced their price target on Clearfield from $120.00 to $105.00 and set an outperform rating for the company in a report on Friday, February 3rd. Cowen began coverage on Clearfield in a report on Wednesday, January 4th. They set an outperform rating and a $141.00 price target for the company. Roth Capital began coverage on Clearfield in a report on Tuesday, January 17th. They set a buy rating and a $120.00 price target for the company. Finally, Needham & Company LLC reduced their price target on Clearfield from $135.00 to $110.00 and set a buy rating for the company in a report on Friday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $116.33.

Clearfield Stock Performance

CLFD opened at $50.30 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 4.51. The business’s 50-day moving average price is $69.00 and its two-hundred day moving average price is $91.54. The company has a market capitalization of $765.57 million, a price-to-earnings ratio of 13.24 and a beta of 1.36. Clearfield has a 1 year low of $48.91 and a 1 year high of $134.90.

Clearfield (NASDAQ:CLFD – Get Rating) last released its earnings results on Thursday, February 2nd. The communications equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $85.90 million for the quarter, compared to the consensus estimate of $83.56 million. Clearfield had a return on equity of 30.34% and a net margin of 17.41%. Clearfield’s quarterly revenue was up 68.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities analysts expect that Clearfield will post 4.39 EPS for the current fiscal year.

Insider Transactions at Clearfield

In other news, Director Charles N. Hayssen acquired 3,000 shares of Clearfield stock in a transaction dated Monday, February 13th. The stock was bought at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the completion of the acquisition, the director now directly owns 136,847 shares in the company, valued at approximately $8,279,243.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Clearfield news, Director Charles N. Hayssen purchased 3,000 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $181,500.00. Following the completion of the transaction, the director now owns 136,847 shares in the company, valued at $8,279,243.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ronald G. Roth purchased 3,100 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was acquired at an average price of $64.00 per share, with a total value of $198,400.00. Following the completion of the transaction, the chairman now owns 1,254,783 shares of the company’s stock, valued at approximately $80,306,112. The disclosure for this purchase can be found here. Corporate insiders own 15.30% of the company’s stock.

Institutional Investors Weigh In On Clearfield

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in Clearfield during the third quarter valued at approximately $62,000. Tower Research Capital LLC TRC raised its position in Clearfield by 54.4% during the third quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 243 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Clearfield during the first quarter valued at approximately $55,000. State of Wyoming raised its position in Clearfield by 140.6% during the fourth quarter. State of Wyoming now owns 854 shares of the communications equipment provider’s stock valued at $80,000 after purchasing an additional 499 shares in the last quarter. Finally, KBC Group NV acquired a new position in Clearfield during the third quarter valued at approximately $99,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Clearfield

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Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.