Shares of Clearfield Inc (NASDAQ:CLFD) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus price objective of $14.00 for the company and are predicting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 30 out of 256 based on the ratings given to related companies.
CLFD has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Clearfield from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a research report on Monday, November 12th.
Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Clearfield during the 3rd quarter valued at $176,000. Bank of New York Mellon Corp lifted its position in shares of Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after acquiring an additional 4,107 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Clearfield by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after acquiring an additional 38,600 shares during the last quarter. Vanguard Group Inc. raised its stake in Clearfield by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Clearfield by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 7,700 shares during the period. Institutional investors own 28.92% of the company’s stock.
CLFD traded up $0.04 during trading on Friday, reaching $10.94. The stock had a trading volume of 6,700 shares, compared to its average volume of 17,962. The company has a market capitalization of $151.20 million, a price-to-earnings ratio of 34.19 and a beta of 1.21. Clearfield has a 1-year low of $8.41 and a 1-year high of $15.30.
Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.09. The firm had revenue of $22.47 million during the quarter, compared to the consensus estimate of $20.50 million. Clearfield had a return on equity of 7.91% and a net margin of 5.51%. As a group, research analysts predict that Clearfield will post 0.3 earnings per share for the current fiscal 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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