Zacks Investment Research upgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $16.00 price objective on the communications equipment provider’s stock.
According to Zacks, “CLEARFIELD INC., formerly APA Cables & Networks, designs and manufactures the FieldSmart fiber management platform, which includes its latest generation Fiber Distribution System and Fiber Scalability Center. The FDS and FSC product-lines support a wide range of panel configurations, densities, connectors and adapter options and is offered alongside an assortment of passive optical components. Clearfield also provides a complete line of fiber and copper assemblies for controlled and outside plant environments. “
Other research analysts also recently issued research reports about the stock. Lake Street Capital reissued a buy rating on shares of Clearfield in a report on Saturday, December 30th. ValuEngine downgraded shares of Clearfield from a hold rating to a sell rating in a report on Monday, April 2nd.
CLFD opened at $13.25 on Tuesday. Clearfield has a 52 week low of $11.00 and a 52 week high of $16.50. The stock has a market cap of $185.75, a price-to-earnings ratio of 47.32 and a beta of 1.07.
Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, January 25th. The communications equipment provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Clearfield had a net margin of 5.39% and a return on equity of 6.00%. The business had revenue of $16.87 million during the quarter, compared to the consensus estimate of $18.30 million. equities research analysts forecast that Clearfield will post 0.43 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Clearfield by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,905 shares of the communications equipment provider’s stock valued at $131,000 after acquiring an additional 424 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Clearfield in the 3rd quarter valued at about $145,000. Wells Fargo & Company MN lifted its holdings in shares of Clearfield by 63.6% in the 3rd quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 4,773 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Clearfield in the 4th quarter valued at about $229,000. Finally, Sei Investments Co. bought a new position in shares of Clearfield in the 3rd quarter valued at about $272,000. 31.27% of the stock is owned by hedge funds and other institutional investors.
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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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.
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