Clearfield, Inc. (CLFD) PT Raised to $16.00 at Lake Street Capital

Clearfield, Inc. (NASDAQ:CLFD) had its target price boosted by Lake Street Capital from $15.00 to $16.00 in a report published on Friday morning, Marketbeat.com reports. They currently have a buy rating on the communications equipment provider’s stock.

A number of other equities analysts have also commented on CLFD. Northland Securities set a $15.00 price target on shares of Clearfield and gave the company a buy rating in a research report on Saturday, July 29th. Zacks Investment Research lowered shares of Clearfield from a hold rating to a sell rating in a research report on Tuesday, August 1st.

Clearfield (NASDAQ CLFD) traded up $0.05 during trading hours on Friday, reaching $12.45. 16,500 shares of the company’s stock were exchanged, compared to its average volume of 54,610. The firm has a market capitalization of $172.79, a price-to-earnings ratio of 44.29 and a beta of 1.26. Clearfield has a 52-week low of $11.00 and a 52-week high of $21.60.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $18.42 million for the quarter, compared to analyst estimates of $19.50 million. Clearfield had a net margin of 5.20% and a return on equity of 5.94%. equities research analysts anticipate that Clearfield will post 0.35 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in CLFD. American International Group Inc. lifted its position in shares of Clearfield by 7.0% during the first quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock worth $116,000 after purchasing an additional 461 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Clearfield by 12.7% during the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock worth $7,363,000 after purchasing an additional 50,391 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Clearfield by 8.4% during the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock worth $1,498,000 after purchasing an additional 7,038 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Clearfield by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock worth $5,335,000 after purchasing an additional 7,645 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Clearfield by 8.9% during the first quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock worth $8,509,000 after purchasing an additional 42,087 shares in the last quarter. Institutional investors own 28.31% of the company’s stock.

Clearfield Company Profile

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.

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