Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $13.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.47% from the company’s current price.
According to Zacks, “CLEARFIELD INC., formerly APA Cables & Networks, designs and manufactures the FieldSmart fiber management platform, which includes its latest generation Fiber Distribution System and Fiber Scalability Center. The FDS and FSC product-lines support a wide range of panel configurations, densities, connectors and adapter options and is offered alongside an assortment of passive optical components. Clearfield also provides a complete line of fiber and copper assemblies for controlled and outside plant environments. “
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Separately, ValuEngine raised shares of Clearfield from a “hold” rating to a “buy” rating in a research report on Monday, November 12th.
Shares of NASDAQ CLFD traded up $0.44 during trading on Friday, reaching $12.21. 99,545 shares of the stock were exchanged, compared to its average volume of 25,602. Clearfield has a twelve month low of $8.41 and a twelve month high of $15.30. The stock has a market cap of $164.57 million, a P/E ratio of 38.16 and a beta of 1.21.
Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, January 31st. The communications equipment provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Clearfield had a net margin of 5.51% and a return on equity of 7.91%. The business had revenue of $20.09 million for the quarter, compared to analysts’ expectations of $19.60 million. On average, equities analysts forecast that Clearfield will post 0.3 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Clearfield during the third quarter worth $176,000. Rhumbline Advisers raised its holdings in Clearfield by 47.0% in the fourth quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 4,902 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Clearfield by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after acquiring an additional 4,107 shares in the last quarter. Vanguard Group Inc raised its holdings in Clearfield by 8.6% in the third quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after acquiring an additional 38,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Clearfield by 8.6% in the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after acquiring an additional 38,600 shares in the last quarter. 28.92% of the stock is currently owned by institutional investors and hedge funds.
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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