Zacks: Brokerages Set $14.00 Price Target for Clearfield Inc (CLFD)

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

Brokerages have set a one year consensus target price of $14.00 for the company and are expecting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 43 out of 255 based on the ratings given to its competitors.

CLFD has been the topic of several recent research reports. ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Friday, February 1st.

Clearfield stock opened at $12.47 on Monday. The firm has a market cap of $170.37 million, a PE ratio of 38.97 and a beta of 1.53. Clearfield has a 12-month low of $8.41 and a 12-month high of $15.30.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, January 31st. The communications equipment provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $20.09 million during the quarter, compared to analysts’ expectations of $19.60 million. Clearfield had a net margin of 5.37% and a return on equity of 7.88%. As a group, research analysts anticipate that Clearfield will post 0.32 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Clearfield by 47.0% in the fourth quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 4,902 shares during the period. Russell Investments Group Ltd. acquired a new stake in Clearfield in the third quarter valued at about $176,000. Bank of New York Mellon Corp boosted its stake in Clearfield by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after buying an additional 4,107 shares in the last quarter. Vanguard Group Inc. boosted its stake in Clearfield by 8.6% in the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after buying an additional 38,600 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in Clearfield by 8.6% in the third quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after buying an additional 38,600 shares in the last quarter. Institutional investors own 28.96% of the company’s stock.

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

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