Clearfield (NASDAQ:CLFD) Rating Increased to Hold at StockNews.com

Clearfield (NASDAQ:CLFD) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts also recently commented on the company. Roth Mkm cut their price objective on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and increased their price objective for the company from $31.00 to $47.00 in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a report on Tuesday, September 24th. Finally, Northland Securities increased their price objective on Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Stock Up 1.5 %

NASDAQ:CLFD traded up $0.55 during trading hours on Thursday, reaching $36.80. 351,561 shares of the stock were exchanged, compared to its average volume of 87,226. The stock has a market cap of $524.03 million, a PE ratio of -59.35 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. Clearfield has a twelve month low of $23.45 and a twelve month high of $44.83. The firm has a 50 day moving average of $37.55 and a 200 day moving average of $37.61.

Hedge Funds Weigh In On Clearfield

A number of large investors have recently made changes to their positions in CLFD. Redwood Wealth Management Group LLC bought a new position in shares of Clearfield during the second quarter worth approximately $75,000. Canada Pension Plan Investment Board bought a new position in shares of Clearfield during the second quarter worth approximately $85,000. SG Americas Securities LLC bought a new position in shares of Clearfield during the second quarter worth approximately $130,000. Squarepoint Ops LLC bought a new position in shares of Clearfield during the second quarter worth approximately $217,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Clearfield by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after purchasing an additional 510 shares during the period. 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.