Shares of Clearfield Inc (NASDAQ:CLFD) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $18.00 for the company and are anticipating that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 76 out of 255 based on the ratings given to related companies.
Separately, Roth Capital assumed coverage on Clearfield in a report on Wednesday, August 21st. They set a “buy” rating and a $19.00 target price on the stock.
Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $23.97 million for the quarter, compared to analysts’ expectations of $23.65 million. Clearfield had a net margin of 5.37% and a return on equity of 6.30%. On average, analysts predict that Clearfield will post 0.37 earnings per share for the current year.
In related news, Chairman Ronald G. Roth bought 5,000 shares of Clearfield stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $12.42 per share, for a total transaction of $62,100.00. Following the acquisition, the chairman now owns 1,233,699 shares in the company, valued at $15,322,541.58. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.70% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Panagora Asset Management Inc. raised its holdings in shares of Clearfield by 58.9% in the second quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock valued at $374,000 after buying an additional 10,454 shares during the last quarter. Evercore Wealth Management LLC grew its position in Clearfield by 137.6% during the second quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock worth $647,000 after buying an additional 28,260 shares in the last quarter. California Public Employees Retirement System grew its position in Clearfield by 5.8% during the third quarter. California Public Employees Retirement System now owns 62,400 shares of the communications equipment provider’s stock worth $739,000 after buying an additional 3,400 shares in the last quarter. Northern Trust Corp increased its stake in Clearfield by 2.0% during the 2nd quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock worth $1,956,000 after acquiring an additional 2,961 shares during the period. Finally, Royal Bank of Canada increased its stake in Clearfield by 6.3% during the 2nd quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock worth $1,962,000 after acquiring an additional 8,749 shares during the period. Institutional investors own 29.20% 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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