Clearfield, Inc. (NASDAQ:CLFD) Receives Consensus Rating of “Hold” from Brokerages

Clearfield, Inc. (NASDAQ:CLFD) has earned a consensus recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $47.50.

Several brokerages have recently issued reports on CLFD. Northland Capmk downgraded shares of Clearfield from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Northland Securities downgraded shares of Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 price objective for the company. in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Clearfield in a report on Wednesday. Finally, Roth Capital reaffirmed a “buy” rating on shares of Clearfield in a research note on Thursday, August 7th.

Hedge Funds Weigh In On Clearfield

A number of hedge funds have recently added to or reduced their stakes in CLFD. Millennium Management LLC bought a new stake in Clearfield during the fourth quarter worth approximately $765,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Clearfield by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,488 shares of the communications equipment provider’s stock worth $821,000 after acquiring an additional 960 shares in the last quarter. GAMMA Investing LLC raised its stake in Clearfield by 5,214.1% during the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider’s stock worth $134,000 after acquiring an additional 4,432 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Clearfield by 199.8% in the first quarter. Sequoia Financial Advisors LLC now owns 22,501 shares of the communications equipment provider’s stock valued at $669,000 after buying an additional 14,996 shares in the last quarter. Finally, Skylands Capital LLC increased its stake in shares of Clearfield by 47.9% in the first quarter. Skylands Capital LLC now owns 30,757 shares of the communications equipment provider’s stock valued at $914,000 after buying an additional 9,957 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Clearfield Price Performance

CLFD stock opened at $36.79 on Friday. Clearfield has a 1-year low of $23.78 and a 1-year high of $46.76. The firm has a fifty day moving average price of $34.23 and a two-hundred day moving average price of $35.48. The firm has a market cap of $508.07 million, a price-to-earnings ratio of 3,679.00 and a beta of 1.78.

Clearfield (NASDAQ:CLFD) last released its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Clearfield had a net margin of 0.11% and a return on equity of 0.07%. The firm had revenue of $49.90 million during the quarter, compared to analyst estimates of $47.58 million. As a group, analysts expect that Clearfield will post -0.29 EPS for the current fiscal year.

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.