Clearfield (NASDAQ:CLFD) Downgraded by StockNews.com to “Sell”

Clearfield (NASDAQ:CLFD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Clearfield presently has an average rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Trading Down 0.5 %

NASDAQ CLFD opened at $34.49 on Friday. Clearfield has a 12 month low of $24.78 and a 12 month high of $44.83. The stock has a market capitalization of $492.83 million, a P/E ratio of -40.58 and a beta of 1.27. The firm’s 50-day moving average is $31.85 and its two-hundred day moving average is $36.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The firm had revenue of $46.80 million during the quarter, compared to analysts’ expectations of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. On average, sell-side analysts anticipate that Clearfield will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Clearfield

In related news, Chairman Ronald G. Roth acquired 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in 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 period. Creative Planning grew its position in shares of Clearfield by 0.5% during the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after buying an additional 511 shares in the last quarter. Bard Associates Inc. increased its stake in shares of Clearfield by 6.5% during the third quarter. Bard Associates Inc. now owns 12,220 shares of the communications equipment provider’s stock worth $476,000 after buying an additional 741 shares during the period. Janus Henderson Group PLC raised its holdings in Clearfield by 2.7% in the third quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock valued at $1,171,000 after acquiring an additional 794 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Clearfield in the third quarter worth approximately $53,000. 88.73% of the stock is currently 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.