Clearfield Inc (NASDAQ:CLFD) Given $17.00 Average Target Price by Analysts

Clearfield Inc (NASDAQ:CLFD) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a one year consensus price target of $17.00 for the company and are predicting that the company will post $0.09 EPS for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 29 out of 256 based on the ratings given to related companies.

CLFD has been the subject of several recent research reports. TheStreet raised Clearfield from a “c+” rating to a “b” rating in a report on Monday, March 4th. Zacks Investment Research cut Clearfield from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, ValuEngine cut Clearfield from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th.

NASDAQ:CLFD traded up $0.27 on Friday, hitting $13.25. 170,619 shares of the stock were exchanged, compared to its average volume of 14,799. The firm has a market capitalization of $181.05 million, a PE ratio of 41.41 and a beta of 1.61. Clearfield has a 52 week low of $8.41 and a 52 week high of $16.75. The business has a 50-day moving average of $13.69.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $19.08 million for 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%. Equities research analysts expect that Clearfield will post 0.3 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Clearfield by 1,718.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 2,251 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Clearfield by 123.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock valued at $88,000 after acquiring an additional 4,935 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Clearfield by 47.0% in the 4th quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 4,902 shares during the last quarter. Cadence Capital Management LLC bought a new stake in shares of Clearfield in the 1st quarter valued at about $1,232,000. Finally, Geode Capital Management LLC increased its stake in shares of Clearfield by 4.8% in 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 acquiring an additional 5,110 shares during the last quarter. 29.06% of the stock is owned by institutional investors.

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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