Zacks: Clearfield Inc (CLFD) Given Average Recommendation of “Strong Buy” by Brokerages

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

Analysts have set a 1-year consensus target price of $17.00 for the company and are anticipating that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 13 out of 256 based on the ratings given to related companies.

A number of equities research analysts have recently weighed in on CLFD shares. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Friday, February 1st. ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, TheStreet upgraded Clearfield from a “c+” rating to a “b” rating in a research report on Monday, March 4th.

Several hedge funds have recently modified their holdings of CLFD. Vanguard Group Inc. grew its position in shares of Clearfield by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock worth $6,556,000 after buying an additional 38,600 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Clearfield by 8.6% during the third 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 in the last quarter. Rhumbline Advisers boosted its position in shares of Clearfield by 47.0% during the fourth 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 in the last quarter. BlackRock Inc. boosted its position in shares of Clearfield by 0.5% during the fourth 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Clearfield by 123.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 4,935 shares in the last quarter. Hedge funds and other institutional investors own 29.06% of the company’s stock.

Shares of CLFD stock traded up $0.09 during trading hours on Thursday, reaching $13.79. The company’s stock had a trading volume of 18,279 shares, compared to its average volume of 28,003. The firm has a market cap of $189.38 million, a P/E ratio of 43.09 and a beta of 1.64. Clearfield has a one year low of $8.41 and a one year high of $16.75.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $19.08 million during the quarter, compared to the consensus estimate of $19.00 million. Clearfield had a return on equity of 7.22% and a net margin of 6.03%. On average, research analysts forecast that Clearfield will post 0.3 EPS for the current fiscal 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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