Clearfield (NASDAQ:CLFD) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Price Performance

NASDAQ CLFD opened at $32.09 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The company has a market capitalization of $458.53 million, a price-to-earnings ratio of -37.75 and a beta of 1.28. The stock has a 50-day moving average of $33.67 and a 200 day moving average of $36.97. Clearfield has a one year low of $24.78 and a one year high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The firm had revenue of $46.80 million during the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. On average, sell-side analysts forecast that Clearfield will post -0.16 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Ronald G. Roth purchased 5,000 shares of Clearfield stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the completion of the transaction, the chairman now directly owns 1,266,796 shares in the company, valued at $39,270,676. This represents a 0.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in Clearfield during the third quarter valued at approximately $53,000. Redwood Wealth Management Group LLC purchased a new position in shares of Clearfield during the 2nd quarter valued at $75,000. Truvestments Capital LLC bought a new position in Clearfield in the 3rd quarter worth $80,000. Canada Pension Plan Investment Board bought a new position in Clearfield in the 2nd quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in Clearfield in the 2nd quarter worth $130,000. 88.73% of the stock is currently owned by institutional investors.

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.