Clearfield, Inc. (NASDAQ:CLFD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $44.86 and last traded at $44.54, with a volume of 26202 shares changing hands. The stock had previously closed at $44.43.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CLFD. Wall Street Zen upgraded shares of Clearfield from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Clearfield in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $46.75.
Check Out Our Latest Stock Analysis on CLFD
Clearfield Stock Down 1.4%
The business's 50-day simple moving average is $38.69 and its 200-day simple moving average is $34.12. The stock has a market cap of $588.19 million, a PE ratio of -303.79 and a beta of 1.71.
Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. Clearfield had a negative net margin of 1.04% and a negative return on equity of 0.68%. The company had revenue of $47.17 million for the quarter, compared to the consensus estimate of $38.53 million. As a group, equities research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in CLFD. US Bancorp DE increased its stake in shares of Clearfield by 705.0% in the first quarter. US Bancorp DE now owns 966 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 846 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Clearfield by 340.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 906 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Clearfield by 2,710.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider's stock worth $55,000 after purchasing an additional 1,789 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Clearfield in the fourth quarter worth $74,000. Finally, Strs Ohio purchased a new stake in shares of Clearfield in the first quarter worth $131,000. 88.73% of the stock is currently owned by institutional investors.
About Clearfield
(
Get Free Report)
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.
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