Clearfield, Inc. (NASDAQ:CLFD) Receives $42.20 Consensus PT from Analysts

Shares of Clearfield, Inc. (NASDAQ:CLFD) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.20.

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Clearfield in a research report on Wednesday, April 17th. Roth Mkm dropped their price target on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, January 29th.

Insider Activity at Clearfield

In other news, Chairman Ronald G. Roth purchased 2,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $29.62 per share, with a total value of $59,240.00. Following the acquisition, the chairman now directly owns 1,259,796 shares of the company’s stock, valued at $37,315,157.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners increased its stake in shares of Clearfield by 122.2% in the 4th quarter. Boston Partners now owns 830,783 shares of the communications equipment provider’s stock worth $23,784,000 after purchasing an additional 456,879 shares in the last quarter. ACK Asset Management LLC purchased a new stake in shares of Clearfield in the 4th quarter worth $13,025,000. Federated Hermes Inc. increased its stake in shares of Clearfield by 1,247.7% in the 4th quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 195,082 shares in the last quarter. Smith Graham & Co. Investment Advisors LP purchased a new stake in shares of Clearfield in the 4th quarter worth $5,148,000. Finally, Harber Asset Management LLC purchased a new stake in shares of Clearfield in the 4th quarter worth $4,310,000. 88.73% of the stock is owned by institutional investors.

Clearfield Stock Performance

CLFD stock opened at $29.36 on Tuesday. The business’s 50 day moving average price is $29.76 and its two-hundred day moving average price is $27.94. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The company has a market capitalization of $431.89 million, a price-to-earnings ratio of 35.80 and a beta of 1.32.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The firm had revenue of $34.20 million for the quarter, compared to analysts’ expectations of $29.88 million. During the same period in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was down 60.2% compared to the same quarter last year. Sell-side analysts forecast that Clearfield will post -1.03 earnings per share for the current year.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.