Clearfield, Inc. (NASDAQ:CLFD) Receives $47.50 Average Target Price from Brokerages

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

A number of research firms have weighed in on CLFD. Wall Street Zen lowered Clearfield from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Clearfield in a research note on Saturday, September 27th. Northland Securities cut 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. Northland Capmk cut Clearfield from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Finally, Roth Capital restated a “buy” rating on shares of Clearfield in a research report on Thursday, August 7th.

Institutional Investors Weigh In On Clearfield

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Clearfield by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider’s stock valued at $28,295,000 after acquiring an additional 7,919 shares during the period. Royce & Associates LP grew its position in shares of Clearfield by 1.3% during the 1st quarter. Royce & Associates LP now owns 485,009 shares of the communications equipment provider’s stock valued at $14,414,000 after acquiring an additional 6,200 shares during the period. Royal Bank of Canada grew its position in shares of Clearfield by 6.2% during the 1st quarter. Royal Bank of Canada now owns 269,865 shares of the communications equipment provider’s stock valued at $8,020,000 after acquiring an additional 15,659 shares during the period. G2 Investment Partners Management LLC acquired a new stake in Clearfield in the 2nd quarter worth about $10,022,000. Finally, Select Equity Group L.P. boosted its holdings in Clearfield by 770.2% in the 1st quarter. Select Equity Group L.P. now owns 176,304 shares of the communications equipment provider’s stock worth $5,240,000 after buying an additional 156,044 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Stock Performance

NASDAQ CLFD opened at $35.81 on Friday. The stock has a 50-day simple moving average of $34.88 and a two-hundred day simple moving average of $35.41. The firm has a market capitalization of $494.54 million, a P/E ratio of 3,581.00 and a beta of 1.78. Clearfield has a fifty-two week low of $23.78 and a fifty-two week high of $46.76.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business 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, analysts forecast that Clearfield will post -0.29 earnings per share for the current 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.