Needham & Company LLC Reaffirms Buy Rating for Clearfield (NASDAQ:CLFD)

Clearfield (NASDAQ:CLFD)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 56.25% from the stock’s current price.

Separately, StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Clearfield has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Clearfield Stock Up 0.4 %

CLFD stock opened at $32.00 on Wednesday. The company has a market cap of $452.22 million, a price-to-earnings ratio of -50.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. The business’s 50-day moving average is $33.62 and its two-hundred day moving average is $34.19. Clearfield has a fifty-two week low of $26.94 and a fifty-two week high of $44.83.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. As a group, analysts forecast that Clearfield will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Clearfield

In related news, COO John P. Hill sold 16,539 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now owns 189,886 shares in the company, valued at approximately $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new stake in shares of Clearfield in the 3rd quarter worth about $80,000. Quantbot Technologies LP purchased a new stake in Clearfield during the third quarter valued at approximately $53,000. Janus Henderson Group PLC grew its position in Clearfield by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock valued at $1,171,000 after acquiring an additional 794 shares during the last quarter. Barclays PLC lifted its holdings in Clearfield by 164.2% during the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after buying an additional 54,670 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock valued at $164,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

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.