Clearfield, Inc. (NASDAQ:CLFD) Receives $47.50 Average PT from Analysts

Clearfield, Inc. (NASDAQ:CLFD) has been given an average recommendation of “Hold” by the five brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $47.50.

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Clearfield in a research report on Wednesday, October 8th. Northland Securities cut shares of Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 price objective for the company. in a research note on Thursday, August 7th. Wall Street Zen raised shares of Clearfield from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Roth Capital reaffirmed a “buy” rating on shares of Clearfield in a report on Thursday, August 7th. Finally, Northland Capmk downgraded shares of Clearfield from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently bought and sold shares of the company. Penn Capital Management Company LLC grew its holdings in Clearfield by 67.6% in the third quarter. Penn Capital Management Company LLC now owns 11,335 shares of the communications equipment provider’s stock valued at $390,000 after purchasing an additional 4,570 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Clearfield during the 3rd quarter worth $244,000. Quarry LP purchased a new stake in shares of Clearfield in the 3rd quarter worth about $42,000. Punch & Associates Investment Management Inc. boosted its position in shares of Clearfield by 48.4% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 262,610 shares of the communications equipment provider’s stock worth $9,029,000 after buying an additional 85,610 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Clearfield by 103.6% in the 3rd quarter. Millennium Management LLC now owns 38,196 shares of the communications equipment provider’s stock valued at $1,313,000 after acquiring an additional 19,440 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Clearfield Price Performance

Clearfield stock opened at $29.38 on Friday. The stock’s 50 day moving average price is $33.99 and its 200 day moving average price is $36.82. Clearfield has a 1-year low of $23.78 and a 1-year high of $46.76. The company has a market cap of $405.62 million, a PE ratio of 2,938.00 and a beta of 1.81.

Clearfield Company Profile

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.