Clearfield (NASDAQ:CLFD) Reaches New 12-Month Low at $48.25

Shares of Clearfield, Inc. (NASDAQ:CLFD – Get Rating) reached a new 52-week low during trading on Wednesday . The stock traded as low as $48.25 and last traded at $48.79, with a volume of 77324 shares changing hands. The stock had previously closed at $50.30.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CLFD shares. Lake Street Capital lowered their price target on shares of Clearfield from $135.00 to $108.00 in a research report on Friday, February 3rd. Needham & Company LLC decreased their target price on shares of Clearfield from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Cowen decreased their target price on shares of Clearfield from $141.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Roth Capital initiated coverage on shares of Clearfield in a research report on Tuesday, January 17th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Cowen initiated coverage on shares of Clearfield in a research report on Wednesday, January 4th. They set an “outperform” rating and a $141.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.33.

Clearfield Stock Performance

The company has a quick ratio of 4.51, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $733.30 million, a PE ratio of 12.68 and a beta of 1.36. The stock’s 50 day simple moving average is $67.15 and its two-hundred day simple moving average is $90.93.

Clearfield (NASDAQ:CLFD – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The communications equipment provider reported $1.00 earnings per share 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 the consensus estimate of $83.56 million. Clearfield had a net margin of 17.41% and a return on equity of 30.34%. Clearfield’s revenue was up 68.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, research analysts anticipate that Clearfield, Inc. will post 4.39 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Clearfield

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. grew its holdings in Clearfield by 1.3% during the 2nd quarter. Bard Associates Inc. now owns 11,383 shares of the communications equipment provider’s stock worth $705,000 after acquiring an additional 150 shares in the last quarter. Private Advisor Group LLC grew its holdings in Clearfield by 6.1% during the 3rd quarter. Private Advisor Group LLC now owns 3,458 shares of the communications equipment provider’s stock worth $362,000 after acquiring an additional 200 shares in the last quarter. AE Wealth Management LLC grew its holdings in Clearfield by 3.7% during the 3rd quarter. AE Wealth Management LLC now owns 5,576 shares of the communications equipment provider’s stock worth $583,000 after acquiring an additional 200 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Clearfield by 54.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock worth $72,000 after acquiring an additional 243 shares in the last quarter. Finally, Credit Suisse AG grew its holdings in Clearfield by 3.2% during the 2nd quarter. Credit Suisse AG now owns 8,134 shares of the communications equipment provider’s stock worth $503,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.