Clearfield, Inc. (NASDAQ:CLFD – Get Rating)’s share price gapped down before the market opened on Friday after Lake Street Capital lowered their price target on the stock from $135.00 to $108.00. The stock had previously closed at $70.72, but opened at $60.05. Clearfield shares last traded at $63.04, with a volume of 226,586 shares traded.
CLFD has been the topic of several other research reports. Cowen began coverage on Clearfield in a research report on Wednesday, January 4th. They set an “outperform” rating and a $141.00 target price on the stock. Needham & Company LLC lowered their price objective on Clearfield from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com downgraded Clearfield from a “hold” rating to a “sell” rating in a research report on Tuesday. Roth Capital initiated coverage on Clearfield in a research note on Tuesday, January 17th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Cowen reduced their price target on Clearfield from $141.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Clearfield has an average rating of “Moderate Buy” and a consensus target price of $116.33.
Institutional Trading of Clearfield
Several hedge funds have recently made changes to their positions in CLFD. Los Angeles Capital Management LLC lifted its holdings in Clearfield by 409.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 32,977 shares of the communications equipment provider’s stock worth $2,043,000 after buying an additional 26,503 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of Clearfield in the third quarter valued at about $209,000. Texas Permanent School Fund purchased a new stake in shares of Clearfield in the third quarter valued at about $861,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Clearfield in the second quarter valued at about $565,000. Finally, Hamilton Wealth LLC acquired a new stake in shares of Clearfield in the third quarter valued at about $272,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Clearfield Price Performance
The company has a debt-to-equity ratio of 0.13, a current ratio of 3.10 and a quick ratio of 1.51. The company’s 50 day moving average is $95.11 and its 200 day moving average is $100.44. The stock has a market cap of $941.19 million, a price-to-earnings ratio of 17.43 and a beta of 1.32.
Clearfield (NASDAQ:CLFD – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The communications equipment provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Clearfield had a net margin of 18.22% and a return on equity of 37.81%. The business had revenue of $85.90 million during the quarter, compared to analyst estimates of $83.56 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company’s revenue was up 68.1% on a year-over-year basis. Research analysts forecast that Clearfield, Inc. will post 4.57 earnings per share for the current fiscal year.
About Clearfield
Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.