Weiss Ratings Reiterates Hold (C-) Rating for Clearfield (NASDAQ:CLFD)

Key Points

• Weiss Ratings has reiterated a Hold (C-) rating for Clearfield (NASDAQ:CLFD), following similar cautious assessments from other analysts including Northland Capital and Wall Street Zen.
• Clearfield's stock is currently priced at $35.92, with a market cap of $496.06 million, and trades at a price-to-earnings ratio of 3,592.00.
• Despite a consensus target price of $47.50, Clearfield reported a modest net margin of 0.11% and anticipates a negative earnings per share of -0.29 for the current year.

Clearfield (NASDAQ:CLFD - Get Free Report)'s stock had its "hold (c-)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on the stock. Northland Capmk cut shares of Clearfield from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Northland Securities lowered shares of Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price target on the stock. in a research note on Thursday, August 7th. Finally, Roth Capital reiterated a "buy" rating on shares of Clearfield in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Clearfield has an average rating of "Hold" and a consensus target price of $47.50.

Clearfield Stock Up 1.6%

NASDAQ:CLFD traded up $0.58 during mid-day trading on Wednesday, hitting $35.92. 59,361 shares of the stock traded hands, compared to its average volume of 109,832. The stock has a market capitalization of $496.06 million, a price-to-earnings ratio of 3,592.00 and a beta of 1.78. Clearfield has a 52 week low of $23.78 and a 52 week high of $46.76. The firm's 50 day moving average is $34.37 and its two-hundred day moving average is $35.45.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $49.90 million during the quarter, compared to analysts' expectations of $47.58 million. Clearfield had a net margin of 0.11% and a return on equity of 0.07%. As a group, research analysts predict that Clearfield will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Clearfield

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Clearfield by 0.8% in the first quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider's stock worth $28,295,000 after buying an additional 7,919 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Clearfield by 1.3% in the first quarter. Royce & Associates LP now owns 485,009 shares of the communications equipment provider's stock worth $14,414,000 after buying an additional 6,200 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Clearfield by 6.2% in the first quarter. Royal Bank of Canada now owns 269,865 shares of the communications equipment provider's stock worth $8,020,000 after buying an additional 15,659 shares in the last quarter. G2 Investment Partners Management LLC acquired a new stake in Clearfield during the second quarter worth about $10,022,000. Finally, Select Equity Group L.P. increased its position in Clearfield by 770.2% during the first quarter. Select Equity Group L.P. now owns 176,304 shares of the communications equipment provider's stock worth $5,240,000 after purchasing an additional 156,044 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

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.

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