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

StockNews.com cut shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a research note published on Wednesday morning.

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

Clearfield Stock Performance

NASDAQ CLFD opened at $29.98 on Wednesday. The business’s 50 day moving average price is $35.45 and its 200-day moving average price is $37.46. Clearfield has a fifty-two week low of $24.78 and a fifty-two week high of $44.83. The company has a market cap of $428.41 million, a P/E ratio of -35.27 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The business had revenue of $46.80 million for the quarter, compared to analysts’ expectations of $41.95 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Clearfield will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Clearfield

Several institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Clearfield during the 3rd quarter worth about $53,000. Redwood Wealth Management Group LLC bought a new position in shares of Clearfield during the second quarter valued at approximately $75,000. Truvestments Capital LLC purchased a new position in Clearfield during the third quarter valued at approximately $80,000. Canada Pension Plan Investment Board bought a new position in Clearfield in the second quarter worth approximately $85,000. Finally, SG Americas Securities LLC purchased a new stake in Clearfield during the second quarter worth $130,000. Hedge funds and other 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.