Shares of Clearfield Inc (NASDAQ:CLFD) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus target price of $14.00 for the company and are expecting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 59 out of 255 based on the ratings given to related companies.
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A number of research firms have weighed in on CLFD. ValuEngine raised shares of Clearfield from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Zacks Investment Research raised shares of Clearfield from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, February 1st.
Shares of Clearfield stock traded up $0.47 on Monday, hitting $13.50. The stock had a trading volume of 27,402 shares, compared to its average volume of 26,737. Clearfield has a twelve month low of $8.41 and a twelve month high of $15.30. The company has a market capitalization of $184.44 million, a P/E ratio of 42.19 and a beta of 1.53.
Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, January 31st. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Clearfield had a return on equity of 7.88% and a net margin of 5.37%. The company had revenue of $20.09 million during the quarter, compared to the consensus estimate of $19.60 million. As a group, equities research analysts predict that Clearfield will post 0.32 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in CLFD. Bank of New York Mellon Corp increased its position in Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after purchasing an additional 4,107 shares during the period. BlackRock Inc. increased its position in Clearfield by 3.2% during the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after purchasing an additional 25,107 shares during the period. Russell Investments Group Ltd. acquired a new stake in Clearfield during the 3rd quarter valued at approximately $176,000. Renaissance Technologies LLC increased its position in Clearfield by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 7,700 shares during the period. Finally, Vanguard Group Inc. increased its position in Clearfield by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the period. 28.96% of the stock is 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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