Clearfield (NASDAQ:CLFD) was upgraded by analysts at BidaskClub from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, BidAskClub reports.
A number of other research analysts have also recently issued reports on the company. ValuEngine cut Clearfield from a "buy" rating to a "hold" rating in a research note on Tuesday, April 21st. TheStreet raised Clearfield from a "c+" rating to a "b" rating in a research report on Thursday, July 23rd. Zacks Investment Research raised Clearfield from a "hold" rating to a "strong-buy" rating and set a $21.00 price objective for the company in a research report on Wednesday. Lake Street Capital upped their price objective on Clearfield from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Northland Securities upped their price objective on Clearfield from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Clearfield has an average rating of "Buy" and an average target price of $18.75.
NASDAQ:CLFD opened at $18.64 on Friday. Clearfield has a 1 year low of $8.32 and a 1 year high of $19.00. The stock has a market cap of $256.52 million, a price-to-earnings ratio of 41.42 and a beta of 1.09. The stock has a 50-day moving average price of $14.27 and a two-hundred day moving average price of $12.77.
Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, July 23rd. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.14. Clearfield had a return on equity of 8.10% and a net margin of 6.83%. The firm had revenue of $25.97 million during the quarter, compared to analysts' expectations of $23.00 million. As a group, equities analysts expect that Clearfield will post 0.48 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio raised its holdings in Clearfield by 9.0% during the second quarter. Strs Ohio now owns 17,000 shares of the communications equipment provider's stock worth $237,000 after acquiring an additional 1,400 shares in the last quarter. Royal Bank of Canada raised its holdings in Clearfield by 3.6% during the first quarter. Royal Bank of Canada now owns 249,784 shares of the communications equipment provider's stock worth $2,960,000 after acquiring an additional 8,661 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Clearfield by 6.4% during the first quarter. Wells Fargo & Company MN now owns 27,334 shares of the communications equipment provider's stock worth $324,000 after acquiring an additional 1,633 shares in the last quarter. Geode Capital Management LLC raised its holdings in Clearfield by 3.7% during the first quarter. Geode Capital Management LLC now owns 136,237 shares of the communications equipment provider's stock worth $1,614,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new stake in Clearfield during the first quarter worth about $135,000. Institutional investors and hedge funds own 29.98% 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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