Shares of Clearfield, Inc. (NASDAQ:CLFD) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $15.50 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 113 out of 265 based on the ratings given to its competitors.
Several research analysts recently weighed in on CLFD shares. Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Northland Securities set a $15.00 target price on Clearfield and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, Lake Street Capital increased their target price on Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 10th.
Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $18.42 million for the quarter, compared to analysts’ expectations of $19.50 million. Clearfield had a return on equity of 5.95% and a net margin of 5.20%. research analysts forecast that Clearfield will post 0.29 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of CLFD. WCM Investment Management CA raised its position in shares of Clearfield by 275.5% in the 3rd quarter. WCM Investment Management CA now owns 200,015 shares of the communications equipment provider’s stock worth $2,720,000 after buying an additional 146,744 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Clearfield by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 395,595 shares of the communications equipment provider’s stock worth $5,222,000 after buying an additional 71,307 shares during the period. Vanguard Group Inc. raised its position in shares of Clearfield by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock worth $7,363,000 after buying an additional 50,391 shares during the period. Worth Venture Partners LLC purchased a new position in shares of Clearfield in the 2nd quarter worth $353,000. Finally, Sei Investments Co. purchased a new position in shares of Clearfield in the 3rd quarter worth $272,000. 29.13% of the stock is currently owned by institutional investors and hedge funds.
Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
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