Northland Securities set a $15.00 price target on Clearfield, Inc. (NASDAQ:CLFD) in a report issued on Saturday, July 29th. The firm currently has a buy rating on the communications equipment provider’s stock.

Separately, Zacks Investment Research downgraded shares of Clearfield from a hold rating to a sell rating in a research note on Tuesday, May 2nd.

Clearfield (NASDAQ CLFD) opened at 11.50 on Friday. The company’s 50 day moving average is $12.89 and its 200 day moving average is $14.88. Clearfield has a 12 month low of $11.00 and a 12 month high of $21.60. The stock has a market cap of $160.24 million, a PE ratio of 29.64 and a beta of 1.25.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The company had revenue of $19.61 million during the quarter, compared to analysts’ expectations of $22.90 million. Clearfield had a return on equity of 8.12% and a net margin of 6.87%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. On average, analysts anticipate that Clearfield will post $0.25 EPS for the current fiscal year.

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Clearfield declared that its board has approved a stock buyback program on Thursday, April 27th that authorizes the company to repurchase $4.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In other Clearfield news, Chairman Ronald G. Roth bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of $11.45 per share, with a total value of $57,250.00. Following the transaction, the chairman now owns 1,224,484 shares of the company’s stock, valued at approximately $14,020,341.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 18.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CLFD. WCM Investment Management CA acquired a new position in Clearfield during the second quarter worth approximately $703,000. Bank of New York Mellon Corp increased its position in Clearfield by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 50,902 shares of the communications equipment provider’s stock worth $672,000 after buying an additional 982 shares during the period. Renaissance Technologies LLC increased its position in Clearfield by 8.9% in the first quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock worth $8,509,000 after buying an additional 42,087 shares during the period. Dimensional Fund Advisors LP increased its position in Clearfield by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock worth $5,335,000 after buying an additional 7,645 shares during the period. Finally, Geode Capital Management LLC increased its position in Clearfield by 8.4% in the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock worth $1,498,000 after buying an additional 7,038 shares during the period. 27.06% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Company Profile

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.

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