Clearfield Inc (NASDAQ:CLFD) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Clearfield Inc (NASDAQ:CLFD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price target of $17.00 for the company and are expecting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 57 out of 256 based on the ratings given to related companies.

Several research analysts have recently commented on the company. TheStreet lowered Clearfield from a “b” rating to a “c+” rating in a research report on Friday, April 26th. Northland Securities restated a “buy” rating and set a $17.00 price objective on shares of Clearfield in a research report on Friday, July 26th. ValuEngine lowered Clearfield from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research upgraded Clearfield from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th.

A number of large investors have recently added to or reduced their stakes in CLFD. Cadence Capital Management LLC acquired a new position in Clearfield during the 1st quarter valued at approximately $1,232,000. O Shaughnessy Asset Management LLC boosted its position in Clearfield by 82.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 7,320 shares during the period. Geode Capital Management LLC boosted its position in Clearfield by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 111,925 shares of the communications equipment provider’s stock valued at $1,110,000 after purchasing an additional 5,110 shares during the period. Rhumbline Advisers boosted its position in Clearfield by 47.0% during the 4th quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 4,902 shares during the period. Finally, BlackRock Inc. boosted its position in Clearfield by 0.5% during the 4th quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock valued at $8,124,000 after purchasing an additional 3,920 shares during the period. Institutional investors and hedge funds own 29.06% of the company’s stock.

Shares of CLFD traded up $0.44 during mid-day trading on Wednesday, hitting $13.50. The stock had a trading volume of 196 shares, compared to its average volume of 15,222. The stock has a market capitalization of $182.41 million, a P/E ratio of 42.19 and a beta of 1.53. The company’s fifty day moving average price is $13.32. Clearfield has a fifty-two week low of $8.41 and a fifty-two week high of $16.75.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, July 25th. The communications equipment provider reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $22.50 million. Clearfield had a return on equity of 6.49% and a net margin of 5.46%. Analysts forecast that Clearfield will post 0.3 EPS for the current year.

About Clearfield

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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