Clearfield, Inc. (CLFD) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Five of seven covering firms rate Clearfield a Buy, while one rates it Hold and one Sell; the average 12-month price target is $41.75.
• Recent analyst actions were mixed: Needham lowered its price target to $40 while maintaining a Buy rating, while Zacks upgraded its rating from Strong Sell to Hold.
• Clearfield beat quarterly EPS estimates with $0.22 per share versus $0.19 expected, though revenue of $43.86 million was slightly below expectations.

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.75.

A number of equities analysts have recently commented on the company. Weiss Ratings raised Clearfield from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Needham & Company LLC cut their price target on Clearfield from $52.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Zacks Research upgraded Clearfield from a "strong sell" rating to a "hold" rating in a research report on Friday, October 30th. Finally, Lake Street Capital set a $38.00 price objective on shares of Clearfield in a report on Thursday, August 6th.

Hedge Funds Weigh In On Clearfield

A number of hedge funds have recently modified their holdings of CLFD. AIGH Capital Management LLC boosted its position in shares of Clearfield by 20.7% during the third quarter. AIGH Capital Management LLC now owns 1,217,196 shares of the communications equipment provider's stock worth $37,903,000 after buying an additional 208,727 shares during the period. BlackRock Inc. purchased a new stake in shares of Clearfield during the 2nd quarter valued at $38,096,000. ACK Asset Management LLC lifted its stake in Clearfield by 10.2% in the second quarter. ACK Asset Management LLC now owns 810,200 shares of the communications equipment provider's stock worth $32,238,000 after purchasing an additional 75,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Clearfield by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 353,486 shares of the communications equipment provider's stock valued at $9,357,000 after purchasing an additional 36,756 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of Clearfield by 4.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 289,610 shares of the communications equipment provider's stock worth $7,666,000 after purchasing an additional 11,500 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Stock Down 0.3%

Shares of CLFD opened at $28.63 on Friday. The stock has a market cap of $388.80 million, a PE ratio of -56.14 and a beta of 2.06. Clearfield has a 52-week low of $23.76 and a 52-week high of $52.73. The firm's fifty day moving average is $30.56 and its two-hundred day moving average is $32.47.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The business had revenue of $43.86 million for the quarter, compared to analysts' expectations of $43.92 million. Clearfield had a positive return on equity of 1.61% and a negative net margin of 4.71%. As a group, research analysts anticipate that Clearfield will post 0.23 earnings per share for the current year.

About Clearfield

Clearfield, Inc NASDAQ: CLFD designs, manufactures and sells fiber optic connectivity products used to deploy, manage and protect broadband networks. Its portfolio includes fiber distribution cabinets, panels, terminals, enclosures, splice solutions and other components that support fiber installation from the central office or data center through the outside plant and to end users.

The company markets its products under brands including FieldSmart and WaveSmart. Clearfield's solutions are designed for communications service providers, community broadband operators, utilities, municipalities, government organizations and other network owners building fiber-to-the-home, fiber-to-the-premises and related broadband infrastructure.

Clearfield was founded in 2008 and is headquartered in Minneapolis, Minnesota.

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