Clearfield (NASDAQ:CLFD) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Clearfield (NASDAQ:CLFD) to a sell rating in a research note published on Monday morning.

Several other research firms have also issued reports on CLFD. Needham & Company LLC boosted their target price on Clearfield from $42.00 to $50.00 and gave the stock a buy rating in a research report on Monday. Northland Securities boosted their target price on Clearfield from $40.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Lake Street Capital upgraded Clearfield from a hold rating to a buy rating and boosted their target price for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. Finally, Roth Mkm cut their price objective on Clearfield from $47.00 to $45.00 and set a buy rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $46.75.

Clearfield Stock Up 4.5 %

Shares of CLFD stock opened at $39.40 on Monday. The firm has a market cap of $560.78 million, a price-to-earnings ratio of -157.60 and a beta of 1.39. Clearfield has a 12 month low of $22.91 and a 12 month high of $44.83. The stock has a 50-day moving average price of $39.29 and a 200 day moving average price of $33.76.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.30. The company had revenue of $48.79 million during the quarter, compared to analyst estimates of $42.13 million. Clearfield had a negative return on equity of 3.00% and a negative net margin of 5.26%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. Sell-side analysts predict that Clearfield will post -1.26 earnings per share for the current fiscal year.

Insider Activity

In other Clearfield news, Director Walter Louis Jones, Jr. acquired 1,324 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $37.77 per share, for a total transaction of $50,007.48. Following the acquisition, the director now directly owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Walter Louis Jones, Jr. bought 1,324 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $37.77 per share, for a total transaction of $50,007.48. Following the purchase, the director now owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ronald G. Roth bought 2,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $36.40 per share, for a total transaction of $72,800.00. Following the purchase, the chairman now directly owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearfield

Several institutional investors have recently bought and sold shares of CLFD. Boston Partners lifted its stake 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. ACK Asset Management LLC acquired a new position in shares of Clearfield during the 4th quarter worth approximately $13,025,000. Federated Hermes Inc. increased its position in shares of Clearfield by 1,247.7% during the 4th quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 195,082 shares during the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of Clearfield during the 4th quarter worth approximately $5,148,000. Finally, Harber Asset Management LLC acquired a new position in shares of Clearfield during the 4th quarter worth approximately $4,310,000. 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.