Clearfield, Inc. (NASDAQ:CLFD) Chairman Ronald G. Roth Buys 2,000 Shares

Clearfield, Inc. (NASDAQ:CLFDGet Free Report) Chairman Ronald G. Roth acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $36.40 per share, with a total value of $72,800.00. Following the purchase, the chairman now directly owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Clearfield Trading Up 1.6 %

Shares of Clearfield stock opened at $37.67 on Wednesday. The company has a fifty day simple moving average of $32.19 and a 200-day simple moving average of $29.58. Clearfield, Inc. has a 12-month low of $22.91 and a 12-month high of $50.82. The stock has a market cap of $536.16 million, a price-to-earnings ratio of -150.68 and a beta of 1.33.

Clearfield (NASDAQ:CLFDGet Free Report) last announced its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.13. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. The business had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $31.25 million. During the same period in the previous year, the company posted $0.67 EPS. The company’s quarterly revenue was down 43.1% on a year-over-year basis. On average, analysts forecast that Clearfield, Inc. will post -1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLFD has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Clearfield in a research note on Thursday, May 16th. Northland Securities upgraded shares of Clearfield from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $25.00 to $40.00 in a research note on Friday, May 3rd. Finally, Roth Mkm restated a “buy” rating and issued a $47.00 price target on shares of Clearfield in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Clearfield currently has an average rating of “Hold” and an average target price of $42.40.

Get Our Latest Analysis on CLFD

Institutional Trading of Clearfield

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its stake in shares of Clearfield by 122.2% during the fourth quarter. Boston Partners now owns 830,783 shares of the communications equipment provider’s stock worth $23,784,000 after purchasing an additional 456,879 shares during the last quarter. ACK Asset Management LLC purchased a new position in Clearfield during the 4th quarter worth $13,025,000. Federated Hermes Inc. lifted its stake in shares of Clearfield by 1,247.7% in the 4th quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider’s stock worth $6,128,000 after acquiring an additional 195,082 shares during the period. Smith Graham & Co. Investment Advisors LP purchased a new stake in shares of Clearfield in the fourth quarter valued at about $5,148,000. Finally, Harber Asset Management LLC acquired a new position in shares of Clearfield during the fourth quarter worth about $4,310,000. 88.73% of the stock is owned by institutional investors and hedge funds.

About Clearfield

(Get Free Report)

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.

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