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

Clearfield (NASDAQ:CLFD) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

CLFD has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research note on Friday, November 8th. Roth Mkm reduced their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Northland Securities boosted their price objective on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and increased their target price for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Clearfield presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Stock Performance

Clearfield stock opened at $29.98 on Wednesday. Clearfield has a fifty-two week low of $24.78 and a fifty-two week high of $44.83. The firm’s 50 day simple moving average is $35.24 and its 200-day simple moving average is $37.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69. The company has a market cap of $428.41 million, a P/E ratio of -35.27 and a beta of 1.35.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data 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 company’s revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, equities research analysts predict that Clearfield will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Clearfield

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLFD. Vanguard Group Inc. raised its holdings in shares of Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock valued at $31,223,000 after purchasing an additional 14,307 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Clearfield by 12.2% during the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock worth $9,704,000 after buying an additional 27,178 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Clearfield by 83.2% during the second quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock valued at $8,798,000 after buying an additional 103,648 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Clearfield in the second quarter worth about $7,801,000. Finally, Creative Planning boosted its stake in shares of Clearfield by 0.5% during the 3rd quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after acquiring an additional 511 shares in the last quarter. Institutional investors 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.