Clearfield, Inc. (NASDAQ:CLFD) Given Average Recommendation of “Hold” by Brokerages

Shares of Clearfield, Inc. (NASDAQ:CLFD) have earned an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $42.20.

A number of research firms have recently commented on CLFD. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Clearfield in a research note on Wednesday, April 17th. Roth Mkm cut their price target on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th.

Clearfield Stock Up 2.9 %

NASDAQ CLFD opened at $29.11 on Tuesday. The stock has a market cap of $428.21 million, a price-to-earnings ratio of 35.50 and a beta of 1.32. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The business has a fifty day moving average of $29.79 and a 200-day moving average of $27.90.

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

Insider Activity at Clearfield

In other news, Chairman Ronald G. Roth acquired 2,000 shares of the stock in a transaction on Friday, February 23rd. The stock was bought at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the transaction, the chairman now directly owns 1,259,796 shares of the company’s stock, valued at $37,315,157.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Clearfield

A number of institutional investors have recently added to or reduced their stakes in CLFD. Principal Securities Inc. purchased a new stake in shares of Clearfield during the fourth quarter worth about $25,000. Parkside Financial Bank & Trust increased its holdings in Clearfield by 134.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 648 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Clearfield by 70.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock valued at $61,000 after purchasing an additional 860 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Clearfield by 109.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock valued at $78,000 after buying an additional 1,423 shares during the last quarter. Finally, CWM LLC grew its position in shares of Clearfield by 28.1% during the fourth quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds 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.