Clearfield, Inc. (NASDAQ:CLFD) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Clearfield, Inc. (NASDAQ:CLFD) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $41.75.

CLFD has been the topic of a number of recent research reports. Lake Street Capital set a $38.00 target price on Clearfield in a research report on Thursday, August 6th. Needham & Company LLC dropped their target price on shares of Clearfield from $52.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Zacks Research raised shares of Clearfield from a “strong sell” rating to a “hold” rating in a report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Clearfield from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th.

Hedge Funds Weigh In On Clearfield

Institutional investors have recently bought and sold shares of the company. Cetera Trust Company N.A purchased a new stake in shares of Clearfield during the 2nd quarter valued at about $80,000. Legal & General Group Plc bought a new position in shares of Clearfield during the 2nd quarter valued at about $89,000. State of Wyoming bought a new position in Clearfield during the second quarter valued at about $96,000. Lotus Technology Management LP acquired a new stake in shares of Clearfield during the second quarter worth $236,000. Finally, K2 Principal Fund L.P. acquired a new position in shares of Clearfield during the 2nd quarter worth $291,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Clearfield Stock Performance

Shares of NASDAQ CLFD opened at $28.63 on Friday. Clearfield has a fifty-two week low of $23.76 and a fifty-two week high of $52.73. The stock has a market cap of $388.80 million, a PE ratio of -56.14 and a beta of 2.06. The stock has a fifty day moving average of $30.56 and a 200-day moving average of $32.47.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Clearfield had a negative net margin of 4.71% and a positive return on equity of 1.61%. The business had revenue of $43.86 million for the quarter, compared to analyst estimates of $43.92 million. On average, sell-side analysts predict that Clearfield will post 0.23 EPS for the current year.

Clearfield Company Profile

Clearfield, Inc (NASDAQ: CLFD) designs, manufactures and sells fiber optic connectivity products used to deploy, manage and protect broadband networks. Its portfolio includes fiber distribution cabinets, panels, terminals, enclosures, splice solutions and other components that support fiber installation from the central office or data center through the outside plant and to end users.

The company markets its products under brands including FieldSmart and WaveSmart. Clearfield’s solutions are designed for communications service providers, community broadband operators, utilities, municipalities, government organizations and other network owners building fiber-to-the-home, fiber-to-the-premises and related broadband infrastructure.

Clearfield was founded in 2008 and is headquartered in Minneapolis, Minnesota.