Clearfield (NASDAQ:CLFD) Now Covered by Roth Capital

Roth Capital started coverage on shares of Clearfield (NASDAQ:CLFD) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $19.00 price target on the communications equipment provider’s stock. Roth Capital’s target price points to a potential upside of 65.36% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Northland Securities restated a “buy” rating and issued a $17.00 price objective on shares of Clearfield in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. TheStreet cut shares of Clearfield from a “b” rating to a “c+” rating in a report on Friday, April 26th. Finally, ValuEngine cut shares of Clearfield from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.33.

Shares of CLFD opened at $11.49 on Wednesday. The stock has a market cap of $150.72 million, a PE ratio of 32.47 and a beta of 1.46. Clearfield has a fifty-two week low of $8.41 and a fifty-two week high of $16.75. The firm’s 50-day simple moving average is $12.67 and its two-hundred day simple moving average is $13.81.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $21.89 million for the quarter, compared to analysts’ expectations of $22.50 million. Clearfield had a net margin of 5.46% and a return on equity of 6.43%. On average, sell-side analysts forecast that Clearfield will post 0.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Clearfield by 1,718.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 2,251 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Clearfield by 82.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock worth $239,000 after buying an additional 7,320 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Clearfield by 58.9% in the second quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock worth $374,000 after buying an additional 10,454 shares in the last quarter. Evercore Wealth Management LLC lifted its stake in shares of Clearfield by 137.6% in the second quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock worth $647,000 after buying an additional 28,260 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new position in shares of Clearfield in the first quarter worth approximately $1,232,000. Hedge funds and other institutional investors own 29.00% of the company’s stock.

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

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