Clearfield, Inc. (NASDAQ:CLFD) Receives $42.20 Consensus PT from Analysts

Shares of Clearfield, Inc. (NASDAQ:CLFD) have been assigned an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.20.

A number of equities analysts have issued reports on the stock. Roth Mkm cut their target price on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $36.00 target price on shares of Clearfield in a report on Wednesday, April 17th.

Insiders Place Their Bets

In other Clearfield news, Chairman Ronald G. Roth purchased 2,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were bought at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the acquisition, the chairman now owns 1,259,796 shares in the company, valued at approximately $37,315,157.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clearfield

A number of hedge funds have recently made changes to their positions in CLFD. Boston Partners raised its holdings 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 valued at $23,784,000 after buying an additional 456,879 shares during the last quarter. ACK Asset Management LLC bought a new stake in Clearfield during the fourth quarter worth approximately $13,025,000. Federated Hermes Inc. raised its holdings in Clearfield by 1,247.7% during the fourth quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 195,082 shares in the last quarter. Smith Graham & Co. Investment Advisors LP bought a new stake in Clearfield during the fourth quarter worth approximately $5,148,000. Finally, Harber Asset Management LLC bought a new stake in Clearfield during the fourth quarter worth approximately $4,310,000. Institutional investors own 88.73% of the company’s stock.

Clearfield Stock Performance

NASDAQ:CLFD opened at $29.51 on Tuesday. The company has a market capitalization of $434.09 million, a price-to-earnings ratio of 35.99 and a beta of 1.32. Clearfield has a one year low of $22.91 and a one year high of $50.82. The stock has a 50-day simple moving average of $29.74 and a 200 day simple moving average of $27.97.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $34.20 million during the quarter, compared to the consensus estimate of $29.88 million. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company’s revenue for the quarter was down 60.2% compared to the same quarter last year. During the same period last year, the firm earned $1.00 earnings per share. On average, equities research analysts forecast that Clearfield will post -1.03 EPS for the current fiscal year.

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.