Clearfield Inc. (NASDAQ:CLFD) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price objective of $23.00 for the company and are anticipating that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 37 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a research report on Friday, July 15th.
Clearfield (NASDAQ:CLFD) opened at 18.80 on Wednesday. Clearfield has a 12 month low of $11.59 and a 12 month high of $20.28. The firm has a market capitalization of $264.97 million, a P/E ratio of 40.00 and a beta of 0.64. The firm’s 50-day moving average is $18.31 and its 200 day moving average is $17.74.
Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, July 28th. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. Clearfield had a net margin of 9.25% and a return on equity of 11.83%. The firm earned $21.60 million during the quarter, compared to the consensus estimate of $17.85 million. During the same period in the prior year, the firm earned $0.14 EPS. The company’s revenue was up 18.7% compared to the same quarter last year. On average, analysts expect that Clearfield will post $0.50 EPS for the current fiscal year.
In related news, CEO Cheryl Beranek sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $19.21, for a total value of $192,100.00. Following the completion of the transaction, the chief executive officer now directly owns 592,025 shares of the company’s stock, valued at approximately $11,372,800.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John P. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $19.16, for a total transaction of $95,800.00. Following the completion of the transaction, the chief operating officer now directly owns 244,593 shares of the company’s stock, valued at $4,686,401.88. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY acquired a new position in Clearfield during the second quarter valued at approximately $160,000. BlackRock Fund Advisors increased its position in Clearfield by 3.0% in the second quarter. BlackRock Fund Advisors now owns 299,458 shares of the company’s stock valued at $5,357,000 after buying an additional 8,860 shares during the period. Cadence Capital Management LLC increased its position in Clearfield by 13.2% in the second quarter. Cadence Capital Management LLC now owns 65,388 shares of the company’s stock valued at $1,170,000 after buying an additional 7,648 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Clearfield by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 369,911 shares of the company’s stock valued at $6,618,000 after buying an additional 7,192 shares during the period. Finally, Royce & Associates LP increased its position in Clearfield by 3.7% in the first quarter. Royce & Associates LP now owns 153,000 shares of the company’s stock valued at $2,459,000 after buying an additional 5,400 shares during the period. 25.92% of the stock is owned by institutional investors.
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, including Clearview Classic and Clearview Blue, and Clearview xPAK; Connectivity and Optical Components, including Cable-to-Cable Deployment and Optical Components; FieldSmart, including FieldSmart Fiber Crossover Distribution System, FieldSmart Fiber Scalability Center, FieldSmart Fiber Delivery Point and FieldSmart Small Count Delivery; FieldShield; CraftSmart, and Cable Assemblies.
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