StockNews.com Downgrades Clearfield (NASDAQ:CLFD) to Sell
Clearfield (NASDAQ:CLFD) has been downgraded by StockNews.com. The analysts changed their rating from “hold” to “sell” in a recent note issued to investors.
In a separate report, Needham & Company LLC maintained a “buy” rating for Clearfield and set a price target of $50.00 for the shares. Currently, one equity research analyst has issued a sell rating, while four analysts have expressed a buy rating for the stock. According to MarketBeat, the consensus rating for Clearfield is a “Moderate Buy,” with an average target price of $46.75.
On Friday, shares of Clearfield opened at $32.63. The stock’s 50-day moving average price is $33.86, and its 200-day moving average price stands at $37.05. Over the past year, Clearfield’s stock has hit a low of $24.78 and a high of $44.83. Currently, the company has a market capitalization of $466.28 million, a negative PE ratio of -38.39, and a beta of 1.28. Additionally, Clearfield’s financial ratios include a quick ratio of 6.69, a current ratio of 9.43, and a debt-to-equity ratio of 0.01.
Clearfield reported its earnings results on November 7, revealing an earnings per share (EPS) of ($0.06) for the quarter, surpassing analysts’ expectations by $0.13, which predicted ($0.19) per share. The company’s revenue for the quarter was $46.80 million, exceeding the anticipated $41.95 million. However, Clearfield experienced a negative net margin of 7.47% and a negative return on equity of 4.41%. In comparison to the same quarter last year, the revenue was down by 5.8%. A year ago, the company posted an EPS of $0.17. Analysts expect Clearfield to report an EPS of -0.16 for the current year.
Furthermore, in a recent transaction, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock on December 5 at an average price of $31.00 per share, totaling $155,000. Following this transaction, he now holds 1,266,796 shares of Clearfield, valued at approximately $39.27 million—a 0.40% increase in his holdings. This information was filed with the Securities & Exchange Commission. Moreover, 16.00% of the stock is owned by corporate insiders.
Recent changes in institutional investors’ stakes in Clearfield include Price T Rowe Associates Inc. MD increasing its position by 7.3% in the first quarter, owning 7,536 shares valued at $233,000 after acquiring an additional 510 shares. SG Americas Securities LLC also purchased a new stake in the second quarter valued at $130,000. Additionally, SummerHaven Investment Management LLC grew its stake by 2.7% in the same quarter, owning 15,503 shares worth $598,000. Bank of New York Mellon Corp raised its holdings by 12.0%, now owning 61,205 shares valued at $2.36 million. Lastly, Shaker Investments LLC OH increased its position by 33.0%, acquiring an additional 8,388 shares and valuing its total holdings at $1.31 million. Overall, institutional investors own 88.73% of Clearfield’s stock.
Clearfield, Inc. is involved in manufacturing and selling various fiber connectivity products, both domestically and internationally. The company offers FieldSmart, which includes panels, cabinets, wall boxes, and other enclosures, as well as WaveSmart, featuring integrated optical components for various signal management needs within its fiber management platform, alongside active cabinet products.
Before making any decisions regarding Clearfield, it’s essential to note that while the stock currently has a “Buy” rating among analysts, some of the top-rated analysts believe there are better investment opportunities available.
