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

Analysts have set a 1 year consensus price target of $14.00 for the company and are predicting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 8 out of 257 based on the ratings given to its competitors.

CLFD has been the subject of several research analyst reports. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, August 1st. ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a report on Monday, November 12th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in Clearfield in the 3rd quarter worth about $176,000. Bank of New York Mellon Corp increased its holdings in Clearfield by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after buying an additional 4,107 shares in the last quarter. Royal Bank of Canada increased its holdings in Clearfield by 11.7% in the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after buying an additional 13,275 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Clearfield by 1.5% in the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock worth $6,846,000 after buying an additional 7,700 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Clearfield by 3.2% in the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after buying an additional 25,107 shares in the last quarter. Institutional investors own 28.72% of the company’s stock.

Shares of CLFD traded up $0.10 during trading hours on Wednesday, hitting $12.36. The company had a trading volume of 347 shares, compared to its average volume of 27,222. The firm has a market cap of $164.84 million, a PE ratio of 38.19 and a beta of 1.18. Clearfield has a 52-week low of $10.35 and a 52-week high of $15.30.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.05 by $0.09. Clearfield had a return on equity of 7.91% and a net margin of 5.51%. The company had revenue of $22.47 million during the quarter, compared to the consensus estimate of $20.50 million. As a group, equities analysts anticipate 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 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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