Zacks: Clearfield Inc (CLFD) Receives Average Recommendation of “Strong Buy” from Analysts
Clearfield Inc (NASDAQ:CLFD) has received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus target price of $15.50 for the company and are forecasting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 111 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on the company. Lake Street Capital lifted their price target on Clearfield from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Northland Securities set a $15.00 price target on Clearfield and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded Clearfield from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th.
Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share 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 company had revenue of $18.42 million for the quarter, compared to analyst estimates of $19.50 million. equities analysts forecast that Clearfield will post 0.29 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised 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 valued at $131,000 after buying an additional 424 shares during the last quarter. Citadel Advisors LLC purchased a new position in Clearfield during the third quarter valued at $145,000. Wells Fargo & Company MN raised 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 valued at $166,000 after buying an additional 4,773 shares during the last quarter. Concourse Capital Management LLC purchased a new position in Clearfield during the third quarter valued at $226,000. Finally, WFG Advisors LP purchased a new position in Clearfield during the second quarter valued at $231,000. Institutional investors and hedge funds own 29.01% of the company’s stock.
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Clearfield Company Profile
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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