Clearfield (NASDAQ:CLFD) Earns “Buy” Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Clearfield (NASDAQ:CLFD) in a report issued on Wednesday morning, Benzinga reports. Roth Mkm currently has a $47.00 target price on the communications equipment provider’s stock.

Separately, Needham & Company LLC reissued a buy rating and set a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $42.40.

Clearfield Trading Up 13.2 %

Shares of CLFD stock opened at $36.13 on Wednesday. The company has a market capitalization of $531.47 million, a P/E ratio of -144.52 and a beta of 1.33. The business’s 50 day moving average is $29.95 and its two-hundred day moving average is $28.17. Clearfield has a twelve month low of $22.91 and a twelve month high of $50.82.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.13. The company had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $31.25 million. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.06%. The business’s revenue was down 43.1% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. As a group, equities analysts predict that Clearfield will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearfield

In other Clearfield news, Chairman Ronald G. Roth acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $29.62 per share, with a total value of $59,240.00. Following the purchase, the chairman now directly owns 1,259,796 shares in the company, valued at approximately $37,315,157.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 16.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLFD. Bank of New York Mellon Corp raised its position in shares of Clearfield by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock worth $2,934,000 after purchasing an additional 819 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Clearfield by 109.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 1,423 shares during the period. Barclays PLC grew its stake in Clearfield by 69.6% in the 3rd quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock worth $505,000 after acquiring an additional 7,226 shares during the period. New York State Common Retirement Fund grew its stake in Clearfield by 61.5% in the 3rd quarter. New York State Common Retirement Fund now owns 17,813 shares of the communications equipment provider’s stock worth $511,000 after acquiring an additional 6,782 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Clearfield in the 3rd quarter worth approximately $120,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.