Zacks Investment Research upgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a strong-buy rating in a report issued on Wednesday morning, Zacks.com reports. The firm currently has $21.00 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. “
A number of other equities analysts have also weighed in on the company. TheStreet raised Clearfield from a c+ rating to a b rating in a research note on Thursday, July 23rd. Northland Securities upped their price objective on Clearfield from $16.00 to $18.00 and gave the stock an outperform rating in a research note on Friday, July 24th. ValuEngine lowered Clearfield from a buy rating to a hold rating in a research note on Tuesday, April 21st. Finally, Lake Street Capital upped their price objective on Clearfield from $16.00 to $17.00 and gave the stock a buy rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Clearfield has an average rating of Buy and an average price target of $18.75.
Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, July 23rd. The communications equipment provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. The business had revenue of $25.97 million during the quarter, compared to analysts’ expectations of $23.00 million. Clearfield had a return on equity of 8.10% and a net margin of 6.83%. Equities research analysts forecast that Clearfield will post 0.48 EPS for the current year.
A number of institutional investors have recently made changes to their positions in CLFD. BNP Paribas Arbitrage SA boosted its stake in Clearfield by 122.1% during the first quarter. BNP Paribas Arbitrage SA now owns 3,478 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 1,912 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Clearfield during the first quarter valued at approximately $78,000. Alliancebernstein L.P. bought a new position in Clearfield during the first quarter valued at approximately $135,000. Goldman Sachs Group Inc. bought a new position in Clearfield during the fourth quarter valued at approximately $151,000. Finally, Strs Ohio boosted its stake in Clearfield by 9.0% during the second quarter. Strs Ohio now owns 17,000 shares of the communications equipment provider’s stock valued at $237,000 after buying an additional 1,400 shares during the last quarter. 29.98% of the stock is owned by institutional investors.
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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