Clearfield (NASDAQ:CLFD) Price Target Increased to $45.00 by Analysts at Northland Securities

Clearfield (NASDAQ:CLFD) had its price target boosted by Northland Securities from $40.00 to $45.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the communications equipment provider’s stock.

CLFD has been the subject of a number of other reports. StockNews.com upgraded shares of Clearfield to a sell rating in a research note on Friday, June 21st. Roth Mkm dropped their price target on shares of Clearfield from $47.00 to $45.00 and set a buy rating on the stock in a report on Friday. Needham & Company LLC reaffirmed a buy rating and set a $42.00 price target on shares of Clearfield in a report on Thursday, May 16th. Finally, Lake Street Capital raised shares of Clearfield from a hold rating to a buy rating and raised their price objective for the stock from $31.00 to $47.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $46.75.

Clearfield Stock Up 2.5 %

Shares of Clearfield stock traded up $0.92 during trading on Friday, reaching $38.44. The company’s stock had a trading volume of 49,808 shares, compared to its average volume of 181,126. Clearfield has a 52-week low of $22.91 and a 52-week high of $44.83. The company has a market cap of $547.00 million, a price-to-earnings ratio of -151.76 and a beta of 1.39. The firm’s 50-day moving average is $39.26 and its two-hundred day moving average is $33.64.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.30. The firm had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $42.13 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.00%. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. On average, equities research analysts anticipate that Clearfield will post -1.26 EPS for the current year.

Insider Activity

In related news, Chairman Ronald G. Roth acquired 2,000 shares of Clearfield stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $36.40 per share, for a total transaction of $72,800.00. Following the completion of the transaction, the chairman now directly owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Clearfield

Several large investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC bought a new stake in Clearfield in the second quarter worth $835,000. Shaker Investments LLC OH lifted its holdings in shares of Clearfield by 33.0% in the 2nd quarter. Shaker Investments LLC OH now owns 33,843 shares of the communications equipment provider’s stock worth $1,305,000 after acquiring an additional 8,388 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Clearfield by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 61,205 shares of the communications equipment provider’s stock valued at $2,360,000 after purchasing an additional 6,539 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Clearfield by 2.7% during the second quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock valued at $598,000 after purchasing an additional 405 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Clearfield in the second quarter valued at approximately $130,000. 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.