Clearfield, Inc. (NASDAQ:CLFD) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.20.

A number of equities research analysts have recently issued reports on the stock. Roth Mkm dropped their target price on shares of Clearfield from $49.00 to $47.00 and set a "buy" rating on the stock in a report on Monday, January 29th. Needham & Company LLC decreased their price target on shares of Clearfield from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, February 2nd.

Insider Activity

In related news, Chairman Ronald G. Roth purchased 2,000 shares of Clearfield stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $29.62 per share, for a total transaction of $59,240.00. Following the completion of the acquisition, the chairman now owns 1,259,796 shares of the company's stock, valued at approximately $37,315,157.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new stake in Clearfield in the fourth quarter worth about $205,000. Barclays PLC grew its stake in Clearfield by 82.3% in the 4th quarter. Barclays PLC now owns 32,112 shares of the communications equipment provider's stock worth $934,000 after buying an additional 14,500 shares in the last quarter. Nierenberg Investment Management Company Inc. grew its stake in Clearfield by 353.3% in the 4th quarter. Nierenberg Investment Management Company Inc. now owns 55,555 shares of the communications equipment provider's stock worth $1,616,000 after buying an additional 43,300 shares in the last quarter. Mairs & Power Inc. grew its stake in Clearfield by 5.4% in the 4th quarter. Mairs & Power Inc. now owns 229,181 shares of the communications equipment provider's stock worth $6,665,000 after buying an additional 11,755 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Clearfield in the 4th quarter worth approximately $116,000. 88.73% of the stock is owned by institutional investors.

Clearfield Trading Up 3.2 %

Shares of CLFD stock traded up $0.96 on Friday, hitting $30.84. The stock had a trading volume of 196,663 shares, compared to its average volume of 238,174. Clearfield has a twelve month low of $22.91 and a twelve month high of $50.82. The firm has a market cap of $453.66 million, a P/E ratio of 37.61 and a beta of 1.33. The company has a fifty day moving average price of $29.05 and a two-hundred day moving average price of $27.98.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The firm had revenue of $34.20 million for the quarter, compared to analysts' expectations of $29.88 million. During the same period in the previous year, the firm posted $1.00 EPS. The company's revenue for the quarter was down 60.2% on a year-over-year basis. On average, analysts expect that Clearfield will post -1.03 earnings per share for the current year.

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.