Brokerages Set Clearfield, Inc. (NASDAQ:CLFD) PT at $42.20

Shares of Clearfield, Inc. (NASDAQ:CLFDGet Free Report) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $42.20.

A number of research firms recently issued reports on CLFD. Needham & Company LLC dropped their price target on shares of Clearfield from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Roth Mkm dropped their price target on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th.

Get Our Latest Research Report on Clearfield

Insider Transactions at Clearfield

In related news, Chairman Ronald G. Roth purchased 2,000 shares of Clearfield stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $29.62 per share, for a total transaction of $59,240.00. Following the acquisition, the chairman now directly owns 1,259,796 shares in the company, valued at $37,315,157.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.00% of the company’s stock.

Institutional Trading of Clearfield

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Clearfield by 2.6% in the 2nd quarter. BlackRock Inc. now owns 2,033,592 shares of the communications equipment provider’s stock valued at $96,291,000 after buying an additional 51,352 shares during the period. Vanguard Group Inc. grew its position in Clearfield by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,160,764 shares of the communications equipment provider’s stock valued at $33,267,000 after acquiring an additional 10,370 shares in the last quarter. Boston Partners grew its position in Clearfield by 122.2% in the 4th quarter. Boston Partners now owns 830,783 shares of the communications equipment provider’s stock valued at $23,784,000 after acquiring an additional 456,879 shares in the last quarter. State Street Corp grew its position in Clearfield by 15.6% in the 1st quarter. State Street Corp now owns 453,412 shares of the communications equipment provider’s stock valued at $21,120,000 after acquiring an additional 61,204 shares in the last quarter. Finally, ACK Asset Management LLC acquired a new position in Clearfield in the 4th quarter valued at about $13,025,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Trading Up 3.2 %

CLFD opened at $30.84 on Friday. The firm has a market capitalization of $453.66 million, a PE ratio of 37.61 and a beta of 1.33. Clearfield has a 12-month low of $22.91 and a 12-month high of $50.82. The firm has a 50 day moving average of $29.05 and a two-hundred day moving average of $27.95.

Clearfield (NASDAQ:CLFDGet Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $29.88 million. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The business’s revenue was down 60.2% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. As a group, analysts predict that Clearfield will post -1.03 EPS for the current fiscal year.

About Clearfield

(Get Free Report

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.

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Analyst Recommendations for Clearfield (NASDAQ:CLFD)

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