Clearfield, Inc. (NASDAQ:CLFD) Receives $42.20 Average PT from Analysts

Clearfield, Inc. (NASDAQ:CLFDGet Free Report) has earned a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.20.

CLFD has been the topic of a number of research analyst reports. Roth Mkm dropped their price target on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th. StockNews.com lowered Clearfield from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, Needham & Company LLC dropped their price target on Clearfield from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd.

View Our Latest Analysis on Clearfield

Clearfield Price Performance

Shares of CLFD stock opened at $31.13 on Thursday. Clearfield has a 1-year low of $22.91 and a 1-year high of $63.85. The stock’s 50-day moving average is $27.79 and its 200 day moving average is $29.86. The company has a market cap of $457.92 million, a P/E ratio of 37.96 and a beta of 1.32.

Clearfield (NASDAQ:CLFDGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company had revenue of $34.20 million for the quarter, compared to the consensus estimate of $29.88 million. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was down 60.2% compared to the same quarter last year. On average, analysts anticipate that Clearfield will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Clearfield

A number of large investors have recently bought and sold shares of CLFD. BlackRock Inc. boosted its position in Clearfield by 2.6% in the 2nd quarter. BlackRock Inc. now owns 2,033,592 shares of the communications equipment provider’s stock worth $96,291,000 after purchasing an additional 51,352 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Clearfield during the 2nd quarter worth approximately $71,955,000. Vanguard Group Inc. raised its stake in shares of Clearfield by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,160,764 shares of the communications equipment provider’s stock worth $33,267,000 after buying an additional 10,370 shares during the period. Boston Partners raised its stake in shares of Clearfield by 122.2% during the 4th quarter. Boston Partners now owns 830,783 shares of the communications equipment provider’s stock worth $23,784,000 after buying an additional 456,879 shares during the period. Finally, State Street Corp raised its stake in shares of Clearfield by 15.6% during the 1st quarter. State Street Corp now owns 453,412 shares of the communications equipment provider’s stock worth $21,120,000 after buying an additional 61,204 shares during the period. Hedge funds and other institutional investors own 66.56% of the company’s stock.

About Clearfield

(Get Free Report

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.

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Analyst Recommendations for Clearfield (NASDAQ:CLFD)

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