Zacks: Brokerages Set $15.50 Price Target for Clearfield Inc (CLFD)

Clearfield Inc (NASDAQ:CLFD) has 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 research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $15.50 for the company and are forecasting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 29 out of 255 based on the ratings given to its competitors.

Several analysts recently commented on the stock. ValuEngine upgraded shares of Clearfield from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research lowered shares of Clearfield from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Clearfield by 3.2% in the second 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. Royal Bank of Canada grew its position in shares of Clearfield by 11.7% in the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock valued at $1,631,000 after purchasing an additional 13,275 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Clearfield by 8.0% in the second 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. Institutional investors and hedge funds own 29.09% of the company’s stock.

CLFD stock traded down $0.29 during midday trading on Friday, hitting $12.27. 9,400 shares of the stock traded hands, compared to its average volume of 29,310. The firm has a market cap of $173.76 million, a PE ratio of 45.43 and a beta of 1.19. Clearfield has a 1-year low of $10.35 and a 1-year high of $15.30.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The company had revenue of $21.48 million for the quarter, compared to analyst estimates of $21.50 million. Clearfield had a net margin of 4.96% and a return on equity of 7.10%. Research analysts predict that Clearfield will post 0.29 EPS for the current year.

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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

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