Clearfield (NASDAQ:CLFD) Upgraded by StockNews.com to “Hold”

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

A number of other equities research analysts have also weighed in on CLFD. Cowen assumed coverage on shares of Clearfield in a report on Wednesday, January 4th. They issued an outperform rating and a $141.00 target price on the stock. Cowen lowered their target price on shares of Clearfield from $141.00 to $114.00 and set an outperform rating on the stock in a report on Friday, February 3rd. Roth Capital assumed coverage on shares of Clearfield in a report on Tuesday, January 17th. They issued a buy rating and a $120.00 target price on the stock. Lake Street Capital lowered their target price on shares of Clearfield from $135.00 to $108.00 in a report on Friday, February 3rd. Finally, Northland Securities lowered their target price on shares of Clearfield from $120.00 to $105.00 and set an outperform rating on the stock in a report on Friday, February 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $116.33.

Clearfield Price Performance

CLFD stock opened at $50.30 on Tuesday. The stock has a market capitalization of $765.57 million, a PE ratio of 13.24 and a beta of 1.36. The company’s 50-day moving average is $69.00 and its 200-day moving average is $91.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 4.51. 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 quarterly earnings data on Thursday, February 2nd. The communications equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $85.90 million for the quarter, compared to analysts’ expectations of $83.56 million. Clearfield had a net margin of 17.41% and a return on equity of 30.34%. The business’s revenue was up 68.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities research analysts expect that Clearfield will post 4.39 EPS for the current fiscal year.

Insider Buying and Selling at Clearfield

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Stephens Inc. AR bought a new position in Clearfield in the 3rd quarter worth approximately $209,000. Axiom Investors LLC DE bought a new position in Clearfield in the 3rd quarter worth approximately $5,975,000. Texas Permanent School Fund bought a new position in Clearfield in the 3rd quarter worth approximately $861,000. Oberweis Asset Management Inc. boosted its holdings in Clearfield by 11.7% in the 3rd quarter. Oberweis Asset Management Inc. now owns 58,990 shares of the communications equipment provider’s stock worth $6,173,000 after buying an additional 6,190 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Clearfield in the 2nd quarter valued at $565,000. 54.60% of the stock is owned by institutional investors.

Clearfield Company Profile

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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.