Clearfield (NASDAQ:CLFD) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Other equities analysts have also issued research reports about the stock. Lake Street Capital decreased their price objective on shares of Clearfield from $135.00 to $108.00 in a research note on Friday, February 3rd. Roth Capital assumed coverage on shares of Clearfield in a research report on Tuesday, January 17th. They issued a buy rating and a $120.00 target price for the company. Cowen cut their target price on shares of Clearfield from $141.00 to $114.00 and set an outperform rating for the company in a research report on Friday, February 3rd. Cowen assumed coverage on shares of Clearfield in a research report on Wednesday, January 4th. They issued an outperform rating and a $141.00 target price for the company. Finally, Needham & Company LLC cut their target price on shares of Clearfield from $135.00 to $110.00 and set a buy rating for the company in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $116.33.

Clearfield Trading Up 0.2 %

Shares of NASDAQ:CLFD opened at $50.30 on Tuesday. The stock has a market capitalization of $765.57 million, a price-to-earnings ratio of 13.24 and a beta of 1.36. Clearfield has a 1-year low of $48.91 and a 1-year high of $134.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.51 and a current ratio of 6.49. The company has a 50 day moving average price of $69.00 and a 200 day moving average price of $91.54.

Clearfield (NASDAQ:CLFD – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The communications equipment provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Clearfield had a net margin of 17.41% and a return on equity of 30.34%. The firm had revenue of $85.90 million during the quarter, compared to analyst estimates of $83.56 million. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was up 68.1% on a year-over-year basis. On average, research analysts anticipate that Clearfield will post 4.39 EPS for the current fiscal year.

Insider Activity

In other Clearfield news, Director Charles N. Hayssen purchased 3,000 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the acquisition, the director now owns 136,847 shares of the company’s stock, valued at $8,279,243.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Ronald G. Roth purchased 3,100 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were bought at an average cost of $64.00 per share, for a total transaction of $198,400.00. Following the transaction, the chairman now directly owns 1,254,783 shares of the company’s stock, valued at approximately $80,306,112. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles N. Hayssen purchased 3,000 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was bought at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the completion of the transaction, the director now directly owns 136,847 shares in the company, valued at $8,279,243.50. The disclosure for this purchase can be found here. 15.30% of the stock is owned by insiders.

Institutional Trading of Clearfield

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Clearfield by 128.9% during the 3rd quarter. BlackRock Inc. now owns 1,798,204 shares of the communications equipment provider’s stock valued at $188,165,000 after acquiring an additional 1,012,641 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Clearfield by 30.1% during the 3rd quarter. Vanguard Group Inc. now owns 766,266 shares of the communications equipment provider’s stock valued at $80,182,000 after acquiring an additional 177,488 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in Clearfield by 53.0% during the 4th quarter. Driehaus Capital Management LLC now owns 544,014 shares of the communications equipment provider’s stock valued at $51,213,000 after purchasing an additional 188,469 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clearfield by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 432,241 shares of the communications equipment provider’s stock valued at $28,191,000 after purchasing an additional 5,734 shares during the last quarter. Finally, State Street Corp lifted its holdings in Clearfield by 66.9% during the 3rd quarter. State Street Corp now owns 378,067 shares of the communications equipment provider’s stock valued at $39,561,000 after purchasing an additional 151,583 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Clearfield

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Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.