Shares of Clearfield, Inc. (NASDAQ:CLFD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus target price of $15.50 for the company and are anticipating that the company will post $0.06 earnings per share 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 related companies.

Several analysts have recently issued reports on CLFD shares. Zacks Investment Research upgraded 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.

Shares of Clearfield (NASDAQ CLFD) traded down $0.55 during trading hours on Friday, hitting $14.05. The stock had a trading volume of 19,071 shares, compared to its average volume of 31,605. Clearfield has a twelve month low of $11.00 and a twelve month high of $21.60. The stock has a market capitalization of $194.04, a P/E ratio of 50.18 and a beta of 1.26.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Clearfield had a return on equity of 5.95% and a net margin of 5.20%. The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $19.50 million. research analysts predict that Clearfield will post 0.29 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its position in Clearfield by 7.0% during the first quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock worth $116,000 after buying an additional 461 shares during the period. The Manufacturers Life Insurance Company increased its stake in Clearfield by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,905 shares of the communications equipment provider’s stock worth $131,000 after acquiring an additional 424 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Clearfield during the third quarter worth about $145,000. Wells Fargo & Company MN increased its stake in Clearfield by 63.6% during the third quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 4,773 shares during the last quarter. Finally, Concourse Capital Management LLC acquired a new stake in Clearfield during the third quarter worth about $226,000. Hedge funds and other institutional investors own 29.13% of the company’s stock.

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About Clearfield

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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