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Clearfield (CLFD) Gets a Buy Rating from Needham

Needham analyst Ryan Koontz reiterated a Buy rating on Clearfield (CLFDResearch Report) today and set a price target of $92.00. The company’s shares closed last Thursday at $48.65.

According to TipRanks.com, Koontz is a 4-star analyst with an average return of 9.0% and a 47.3% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Vonage Holdings, and KVH Industries.

Currently, the analyst consensus on Clearfield is a Moderate Buy with an average price target of $82.50.

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Based on Clearfield’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $45.24 million and net profit of $7.43 million. In comparison, last year the company earned revenue of $27.32 million and had a net profit of $3.05 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CLFD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Clearfield, Inc. designs, manufactures, and distributes fiber optic management, protection and delivery products for communications networks. The firm’s products include fiber cabinets, patch cards, assemblies, cassettes, frames, panels, microduct, terminals, vaults, wall boxes, and box enclosures. It offers its products under the Clearview brand. The company was founded in 1979 and is headquartered in Brooklyn Park, MN.

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