Strs Ohio Takes Position in Clearfield, Inc. (NASDAQ:CLFD)

Strs Ohio acquired a new stake in shares of Clearfield, Inc. (NASDAQ:CLFDGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 600 shares of the communications equipment provider’s stock, valued at approximately $62,000.

Other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Clearfield during the first quarter valued at about $55,000. Steward Financial Group LLC acquired a new position in shares of Clearfield during the second quarter valued at about $61,000. Amalgamated Bank acquired a new position in shares of Clearfield during the first quarter valued at about $121,000. Diversified Trust Co acquired a new stake in shares of Clearfield in the 3rd quarter worth about $235,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Clearfield in the 3rd quarter worth about $252,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Clearfield Trading Up 1.4 %

Shares of CLFD stock opened at $73.40 on Friday. Clearfield, Inc. has a 52-week low of $44.15 and a 52-week high of $134.90. The company has a 50-day simple moving average of $100.95 and a two-hundred day simple moving average of $100.40. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 20.68 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.51 and a current ratio of 3.10.

Clearfield (NASDAQ:CLFDGet Rating) last released its quarterly earnings data on Thursday, November 17th. The communications equipment provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.80 by $0.42. The company had revenue of $95.03 million during the quarter, compared to the consensus estimate of $69.30 million. Clearfield had a net margin of 18.22% and a return on equity of 37.81%. Research analysts anticipate that Clearfield, Inc. will post 4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

CLFD has been the topic of a number of analyst reports. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Tuesday, January 17th. Needham & Company LLC upped their target price on shares of Clearfield from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 18th. Cowen initiated coverage on shares of Clearfield in a report on Wednesday, January 4th. They issued an “outperform” rating and a $141.00 target price on the stock. Lake Street Capital upped their target price on shares of Clearfield from $122.00 to $135.00 in a report on Friday, November 18th. Finally, Roth Capital started coverage on shares of Clearfield in a research report on Tuesday, January 17th. They issued a “buy” rating and a $120.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Clearfield Profile

(Get Rating)

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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