Clearfield, Inc. (NASDAQ:CLFD) Receives $42.20 Average Price Target from Analysts

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

Several equities research analysts recently weighed in on CLFD shares. Needham & Company LLC restated a "buy" rating and set a $36.00 price target on shares of Clearfield in a research report on Wednesday, April 17th. 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.

Clearfield Trading Up 1.1 %

Shares of CLFD stock traded up $0.32 during trading hours on Tuesday, reaching $29.43. The company's stock had a trading volume of 126,381 shares, compared to its average volume of 205,010. Clearfield has a one year low of $22.91 and a one year high of $50.82. The stock has a market capitalization of $432.92 million, a P/E ratio of 35.50 and a beta of 1.32. The firm's fifty day simple moving average is $29.79 and its 200 day simple moving average is $27.90.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share for the quarter, beating 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 business had revenue of $34.20 million for the quarter, compared to analysts' expectations of $29.88 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm's revenue for the quarter was down 60.2% compared to the same quarter last year. As a group, equities research analysts forecast that Clearfield will post -1.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Ronald G. Roth acquired 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 purchase, the chairman now owns 1,259,796 shares in the company, valued at $37,315,157.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearfield

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners increased its position in Clearfield by 122.2% in the fourth quarter. Boston Partners now owns 830,783 shares of the communications equipment provider's stock worth $23,784,000 after buying an additional 456,879 shares in the last quarter. ACK Asset Management LLC bought a new position in shares of Clearfield during the 4th quarter valued at approximately $13,025,000. Federated Hermes Inc. increased its holdings in Clearfield by 1,247.7% in the 4th quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider's stock worth $6,128,000 after acquiring an additional 195,082 shares in the last quarter. Smith Graham & Co. Investment Advisors LP bought a new stake in Clearfield during the 4th quarter worth approximately $5,148,000. Finally, Harber Asset Management LLC bought a new stake in shares of Clearfield during the 4th quarter valued at $4,310,000. 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.