Clearfield (NASDAQ:CLFD) Rating Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a report published on Wednesday morning.

CLFD has been the subject of several other research reports. Northland Securities raised their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Roth Mkm cut their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Trading Down 3.0 %

NASDAQ CLFD opened at $29.98 on Wednesday. Clearfield has a 52 week low of $24.78 and a 52 week high of $44.83. The company has a 50 day moving average price of $35.45 and a 200 day moving average price of $37.46. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The firm has a market cap of $428.41 million, a PE ratio of -35.27 and a beta of 1.35.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results 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. The business had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, sell-side analysts forecast that Clearfield will post -0.05 EPS for the current fiscal year.

Institutional Trading of Clearfield

Several institutional investors and hedge funds have recently bought and sold shares of CLFD. Quantbot Technologies LP acquired a new stake in shares of Clearfield in the third quarter worth $53,000. Redwood Wealth Management Group LLC purchased a new stake in Clearfield in the second quarter valued at $75,000. Truvestments Capital LLC purchased a new position in shares of Clearfield during the 3rd quarter valued at about $80,000. Canada Pension Plan Investment Board acquired a new position in shares of Clearfield in the 2nd quarter valued at about $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Clearfield in the 2nd quarter valued at about $130,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.