Stocks of Clearfield Inc. (NASDAQ:CLFD) traded higher last session on Wall Street, down -8.63% to $55.51.
According to the data, Clearfield Inc. (NASDAQ:CLFD) has 6 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $114.00 and a low of $70.78, we find $109.00. Given the previous closing price of $60.75, this indicates a potential upside of 79.42 percent. CLFD stock price is now -24.14% away from the 50-day moving average and -37.47% away from the 200-day moving average. The market capitalization of the company currently stands at $852.63M.
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A total of 1 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $103.30 as their price target over the next twelve months.
With the price target of $120, ROTH Capital recently initiated with Buy rating for Clearfield Inc. (NASDAQ: CLFD). On January 04, 2023, Cowen recently initiated its ‘Outperform’ rating on the stock quoting a target price of $141, while ‘BWS Financial’ rates the stock as ‘Sell’.
In other news, HAYSSEN CHARLES N, Director bought 3,000 shares of the company’s stock on Feb 13. The stock was bought for $181,500 at an average price of $60.50. Upon completion of the transaction, the Director now directly owns 136,847 shares in the company, valued at $7.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 07, Chairman of the Board ROTH RONALD G bought 3,100 shares of the business’s stock. A total of $198,400 was incurred on buying the stock at an average price of $64.00. This leaves the insider owning 1,254,783 shares of the company worth $69.65 million. Insiders disposed of 129,910 shares of company stock worth roughly $7.21 million over the past 1 year. A total of 5.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLFD stock. A new stake in Clearfield Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $14,147,000. OPHIR ASSET MANAGEMENT PTY LTD invested $8,629,000 in shares of CLFD during the first quarter. In the first quarter, HOOD RIVER CAPITAL MANAGEMENT LLC acquired a new stake in Clearfield Inc. valued at approximately $7,773,000. FULLER & THALER ASSET MANAGEMENT, INC. acquired a new stake in CLFD for approximately $4,949,000. CREATIVE PLANNING purchased a new stake in CLFD valued at around $4,725,000 in the second quarter. In total, there are 288 active investors with 56.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $60.53 for Clearfield Inc. (NASDAQ: CLFD). During the past 12 months, Clearfield Inc. has had a low of $48.91 and a high of $134.90. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 6.50, and a quick ratio of 4.50. The fifty day moving average price for CLFD is $73.18 and a two-hundred day moving average price translates $88.77 for the stock.
The latest earnings results from Clearfield Inc. (NASDAQ: CLFD) was released for Dec, 2022. According to the Communication Equipment Company, earnings per share came in at $1, beating analysts’ expectations of $0.96 by 0.04. This compares to $0.75 EPS in the same period last year. The net profit margin was 17.40% and return on equity was 30.30% for CLFD. The company reported revenue of $85.94 million for the quarter, compared to $51.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 68.15 percent. For the current quarter, analysts expect CLFD to generate $71.9M in revenue.
Clearfield Inc.(CLFD) Company Profile
Clearfield, Inc. manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures. It also provides WaveSmart, which are optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and outdoor cabinet and fiber active cabinet products. The company offers StreetSmart, a portfolio of fiber management products; FieldShield, a fiber pathway and protection method for reducing the cost of broadband deployment; and YOURx platform that consists of hardened terminals, test access points, and various drop cable options for portions of the access network across various fiber drop cable media. It also provides CraftSmart, a line of optical protection field enclosures, including CraftSmart Fiber Protection Pedestals and CraftSmart Fiber Protection Vaults integrated solutions optimized to house FieldSmart products at the last mile access point of the network in above-grade or below-grade installations. The company offers fiber and copper assemblies with an industry-standard or customer-specified configuration; and designs and manufactures custom solutions for in-the-box and network connectivity assemblies specific to that customer’s product line. It provides its fiber to anywhere platform for various incumbent local exchange carriers, competitive local exchange carriers, wireless operators, and multiple systems operators and cable TV companies, as well as the utility/municipality, enterprise, and data center markets. The company was formerly known as APA Enterprises, Inc. and changed its name to Clearfield, Inc. in January 2008. Clearfield, Inc. was founded in 1979 and is headquartered in Minneapolis, Minnesota.
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