Clearfield, Inc. (NASDAQ:CLFD) Holdings Raised by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Clearfield, Inc. (NASDAQ:CLFD – Get Rating) by 451.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,808 shares of the communications equipment provider’s stock after purchasing an additional 18,670 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Clearfield were worth $2,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its position in Clearfield by 54.4% in the third 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. Point72 Hong Kong Ltd bought a new stake in Clearfield in the first quarter worth about $55,000. KBC Group NV bought a new stake in Clearfield in the third quarter worth about $99,000. Stephens Inc. AR bought a new stake in Clearfield in the third quarter worth about $209,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Clearfield in the fourth quarter worth about $188,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Northland Securities dropped their price target on shares of Clearfield from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. TheStreet downgraded Clearfield from a “b-” rating to a “c+” rating in a report on Wednesday, March 29th. Lake Street Capital downgraded Clearfield from a “buy” rating to a “hold” rating in a report on Friday, May 5th. StockNews.com began coverage on Clearfield in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Cowen cut their price objective on Clearfield from $141.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Clearfield Price Performance

Shares of CLFD opened at $37.11 on Thursday. The company has a market capitalization of $565.93 million, a price-to-earnings ratio of 9.74 and a beta of 1.30. Clearfield, Inc. has a fifty-two week low of $30.00 and a fifty-two week high of $134.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.51 and a quick ratio of 5.00. The business’s 50-day moving average is $42.55 and its 200-day moving average is $70.00.

Clearfield 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.