Clearfield’s (CLFD) Buy Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Clearfield (NASDAQ:CLFD) in a report issued on Wednesday, Benzinga reports. They currently have a $47.00 price target on the communications equipment provider’s stock.

Separately, Needham & Company LLC reaffirmed a buy rating and set a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $42.40.

Clearfield Price Performance

Shares of NASDAQ:CLFD opened at $36.13 on Wednesday. The company has a market capitalization of $531.36 million, a P/E ratio of 44.06 and a beta of 1.33. The business’s 50 day simple moving average is $29.81 and its 200 day simple moving average is $28.09. Clearfield has a 1 year low of $22.91 and a 1 year high of $50.82.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.13. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $31.25 million. During the same quarter last year, the business earned $0.67 earnings per share. Clearfield’s revenue was down 43.1% on a year-over-year basis. On average, sell-side analysts anticipate that Clearfield will post -1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Ronald G. Roth purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $29.62 per share, with a total value of $59,240.00. Following the acquisition, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Clearfield

Several hedge funds have recently modified their holdings of the company. Principal Securities Inc. acquired a new position in Clearfield in the 4th quarter worth about $25,000. Parkside Financial Bank & Trust raised its stake in Clearfield by 134.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 648 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Clearfield by 70.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock valued at $61,000 after buying an additional 860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Clearfield by 109.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 1,423 shares during the last quarter. Finally, CWM LLC grew its holdings in Clearfield by 28.1% during the 4th quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 644 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

About Clearfield

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.