Clearfield (NASDAQ:CLFD) Rating Increased to Hold at StockNews.com

Clearfield (NASDAQ:CLFD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other analysts have also commented on CLFD. Northland Securities lifted their target price on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a report on Tuesday, September 24th. Roth Mkm decreased their target price on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and increased their price target for the company from $31.00 to $47.00 in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearfield currently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Trading Up 1.5 %

Shares of CLFD stock traded up $0.55 on Thursday, reaching $36.80. 351,561 shares of the stock were exchanged, compared to its average volume of 87,226. The stock has a 50 day moving average price of $37.55 and a 200 day moving average price of $37.61. The stock has a market cap of $524.03 million, a PE ratio of -59.35 and a beta of 1.35. Clearfield has a one year low of $23.45 and a one year high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73.

Institutional Trading of Clearfield

A number of large investors have recently bought and sold shares of CLFD. BNP Paribas Financial Markets increased its stake in Clearfield by 187.4% during the 1st quarter. BNP Paribas Financial Markets now owns 11,330 shares of the communications equipment provider’s stock worth $349,000 after purchasing an additional 7,388 shares in the last quarter. Quantbot Technologies LP increased its stake in Clearfield by 57.3% during the 1st quarter. Quantbot Technologies LP now owns 11,998 shares of the communications equipment provider’s stock worth $370,000 after purchasing an additional 4,371 shares in the last quarter. Vanguard Group Inc. boosted its position in Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after acquiring an additional 14,307 shares during the last quarter. Teton Advisors Inc. acquired a new position in Clearfield during the 1st quarter worth approximately $555,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Clearfield by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after acquiring an additional 510 shares during the last quarter. 88.73% of the stock is 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.