Clearfield (NASDAQ:CLFD) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a research note released on Saturday.

Separately, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Clearfield in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Stock Down 0.1 %

Shares of NASDAQ CLFD opened at $34.45 on Friday. Clearfield has a 52-week low of $24.78 and a 52-week high of $44.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The stock has a market cap of $492.26 million, a P/E ratio of -40.53 and a beta of 1.27. The firm has a 50 day moving average price of $31.83 and a 200 day moving average price of $36.03.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The business had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same quarter last year, the business posted $0.17 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Analysts expect that Clearfield will post -0.16 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Ronald G. Roth bought 5,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average price of $31.00 per share, with a total value of $155,000.00. Following the completion of the transaction, the chairman now owns 1,266,796 shares in the company, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Clearfield during the 3rd quarter worth approximately $53,000. Redwood Wealth Management Group LLC acquired a new stake in Clearfield in the second quarter valued at $75,000. Truvestments Capital LLC bought a new position in shares of Clearfield in the 3rd quarter valued at about $80,000. Canada Pension Plan Investment Board acquired a new position in shares of Clearfield during the 2nd quarter worth about $85,000. Finally, SG Americas Securities LLC increased its stake in shares of Clearfield by 8.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock worth $142,000 after purchasing an additional 279 shares during the last quarter. 88.73% of the stock is currently owned by 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.