Shares of Clearfield, Inc. (NASDAQ:CLFD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price objective of $15.00 for the company, according to Zacks. Zacks has also assigned Clearfield an industry rank of 91 out of 265 based on the ratings given to its competitors.
Several analysts have recently weighed in on the stock. Northland Securities set a $15.00 price target on shares of Clearfield and gave the company a “buy” rating in a research note on Tuesday, October 17th. Lake Street Capital lifted their price objective on shares of Clearfield from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Finally, Zacks Investment Research lowered shares of Clearfield from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLFD. American International Group Inc. grew its holdings in Clearfield by 7.0% in the first quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock worth $116,000 after purchasing an additional 461 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Clearfield by 12.7% during the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock valued at $7,363,000 after buying an additional 50,391 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Clearfield by 8.4% during the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock valued at $1,498,000 after buying an additional 7,038 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Clearfield by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock valued at $5,335,000 after buying an additional 7,645 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Clearfield by 8.9% during the first quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock valued at $8,509,000 after buying an additional 42,087 shares during the last quarter. 28.31% of the stock is currently owned by institutional investors and hedge funds.
Clearfield (NASDAQ:CLFD) traded down $1.40 during trading on Monday, hitting $12.40. 75,900 shares of the stock traded hands, compared to its average volume of 54,784. Clearfield has a 1 year low of $11.00 and a 1 year high of $21.60. The company has a market capitalization of $172.79, a P/E ratio of 44.29 and a beta of 1.26.
Clearfield (NASDAQ:CLFD) last posted 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 net margin of 5.20% and a return on equity of 5.94%. The firm had revenue of $18.42 million during the quarter, compared to the consensus estimate of $19.50 million. equities research analysts forecast that Clearfield will post 0.35 earnings per share for the current year.
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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