Clearfield (NASDAQ:CLFD) Raised to “Buy” at Wall Street Zen

Clearfield (NASDAQ:CLFD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Northland Capmk lowered shares of Clearfield from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Roth Capital reissued a “buy” rating on shares of Clearfield in a research report on Thursday, August 7th. Northland Securities cut Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Clearfield in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Clearfield currently has a consensus rating of “Hold” and an average price target of $47.50.

Clearfield Trading Down 2.7%

NASDAQ CLFD opened at $31.85 on Friday. The stock has a fifty day simple moving average of $34.49 and a 200-day simple moving average of $36.77. The stock has a market cap of $439.72 million, a PE ratio of 3,185.00 and a beta of 1.81. Clearfield has a twelve month low of $23.78 and a twelve month high of $46.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLFD. US Bancorp DE grew its stake in Clearfield by 705.0% during the 1st quarter. US Bancorp DE now owns 966 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 846 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Clearfield by 2,710.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 1,789 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Clearfield by 116.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,882 shares of the communications equipment provider’s stock worth $82,000 after buying an additional 1,012 shares in the last quarter. Strs Ohio purchased a new stake in shares of Clearfield during the first quarter worth approximately $131,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Clearfield by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,222 shares of the communications equipment provider’s stock valued at $215,000 after acquiring an additional 312 shares in the last quarter. 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.