Clearfield Inc (NASDAQ:CLFD) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price target of $17.00 for the company and are predicting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 189 out of 256 based on the ratings given to related companies.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. TheStreet downgraded shares of Clearfield from a “b” rating to a “c+” rating in a research note on Friday, April 26th. Northland Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Clearfield in a research note on Friday, July 26th. Finally, ValuEngine downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th.
Several hedge funds have recently bought and sold shares of CLFD. BlackRock Inc. raised its stake in shares of Clearfield by 0.5% during the fourth quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock worth $8,124,000 after acquiring an additional 3,920 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Clearfield by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 111,925 shares of the communications equipment provider’s stock worth $1,110,000 after purchasing an additional 5,110 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Clearfield by 1,718.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 2,251 shares during the last quarter. Cadence Capital Management LLC bought a new position in shares of Clearfield in the first quarter worth approximately $1,232,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Clearfield by 82.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock worth $239,000 after purchasing an additional 7,320 shares during the last quarter. 29.06% of the stock is currently owned by hedge funds and other institutional investors.
CLFD traded up $0.48 during trading on Thursday, hitting $12.43. 16,100 shares of the company traded hands, compared to its average volume of 25,380. The firm has a market capitalization of $161.23 million, a price-to-earnings ratio of 38.84 and a beta of 1.46. The firm’s fifty day moving average price is $13.12. Clearfield has a one year low of $8.41 and a one year high of $16.75.
Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $22.50 million. Clearfield had a net margin of 5.46% and a return on equity of 6.43%. On average, sell-side analysts forecast that Clearfield will post 0.3 EPS for the current year.
Clearfield 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.
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