Clearfield’s (CLFD) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearfield (NASDAQ:CLFD) in a research report sent to investors on Friday,Benzinga reports. Needham & Company LLC currently has a $50.00 price objective on the communications equipment provider’s stock.

Other analysts have also issued reports about the stock. Northland Securities upped their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Roth Mkm reduced their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and increased their price target for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Stock Up 1.8 %

CLFD stock opened at $34.80 on Friday. The firm has a 50 day moving average of $37.49 and a 200-day moving average of $37.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. Clearfield has a 12 month low of $23.45 and a 12 month high of $44.83.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Clearfield had a negative return on equity of 4.38% and a negative net margin of 7.47%. The company had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities analysts expect that Clearfield will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearfield

A number of hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC bought a new stake in Clearfield during the 2nd quarter worth approximately $75,000. Canada Pension Plan Investment Board bought a new stake in shares of Clearfield during the 2nd quarter valued at $85,000. SG Americas Securities LLC purchased a new position in shares of Clearfield during the 2nd quarter valued at $130,000. Squarepoint Ops LLC bought a new position in Clearfield in the 2nd quarter worth $217,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Clearfield by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after buying an additional 510 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

About Clearfield

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.