Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $15.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.78% from the company’s previous close.
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. “
Separately, Lake Street Capital reissued a “buy” rating on shares of Clearfield in a research report on Saturday, December 30th.
Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $18.30 million. research analysts anticipate that Clearfield will post 0.43 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of CLFD. The Manufacturers Life Insurance Company lifted its position in shares of Clearfield by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,905 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 424 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Clearfield in the 3rd quarter worth approximately $145,000. Wells Fargo & Company MN raised 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 worth $166,000 after purchasing an additional 4,773 shares during the period. Concourse Capital Management LLC bought a new stake in shares of Clearfield in the 3rd quarter worth approximately $226,000. Finally, Virtu Financial LLC bought a new stake in shares of Clearfield in the 4th quarter worth approximately $229,000. 31.27% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3303195/clearfield-clfd-raised-to-buy-at-zacks-investment-research.html.
Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
Receive News & Ratings for Clearfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearfield and related companies with MarketBeat.com's FREE daily email newsletter.