Clearfield, Inc. (NASDAQ:CLFD) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Clearfield, Inc. has received a consensus recommendation of "Hold" from analysts, with three hold ratings and two buy ratings; the average target price over the next year is $47.50.
• Several institutional investors have recently increased their stakes in Clearfield, with BNP Paribas Financial Markets growing by 1,690.1% to hold 13,193 shares valued at $573,000.
• Clearfield's stock increased by 1.4% on Friday, trading at $35.81, and the company reported earnings of $0.11 per share, exceeding the consensus estimate of $0.05.

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) has been given a consensus recommendation of "Hold" by the five brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $47.50.

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Clearfield in a research report on Saturday, September 27th. Roth Capital reiterated a "buy" rating on shares of Clearfield in a research report on Thursday, August 7th. Northland Securities downgraded Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 target price on the stock. in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Northland Capmk downgraded shares of Clearfield from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Clearfield by 116.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,882 shares of the communications equipment provider's stock worth $82,000 after acquiring an additional 1,012 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Clearfield during the second quarter worth about $220,000. Man Group plc acquired a new stake in shares of Clearfield during the second quarter worth about $465,000. G2 Investment Partners Management LLC acquired a new stake in shares of Clearfield during the second quarter worth about $10,022,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Clearfield by 1,690.1% in the second quarter. BNP Paribas Financial Markets now owns 13,193 shares of the communications equipment provider's stock valued at $573,000 after purchasing an additional 12,456 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Stock Up 1.4%

Shares of NASDAQ CLFD traded up $0.49 during trading hours on Friday, hitting $35.81. 79,131 shares of the stock were exchanged, compared to its average volume of 112,862. The company has a market cap of $494.54 million, a PE ratio of 3,581.00 and a beta of 1.78. The firm has a fifty day moving average price of $34.88 and a 200-day moving average price of $35.36. Clearfield has a 12 month low of $23.78 and a 12 month high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $49.90 million during the quarter, compared to analyst estimates of $47.58 million. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. As a group, equities analysts anticipate that Clearfield will post -0.29 earnings per share for the current fiscal year.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.

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