Zacks: Clearfield Inc (NASDAQ:CLFD) Given Consensus Rating of “Strong Buy” by Brokerages

Clearfield Inc (NASDAQ:CLFD) has received a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $16.83 for the company and are predicting that the company will post $0.08 EPS for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 151 out of 265 based on the ratings given to related companies.

Shares of Clearfield (NASDAQ:CLFD) opened at 13.41 on Monday. Clearfield has a 52-week low of $11.21 and a 52-week high of $20.28. The company’s 50-day moving average is $13.15 and its 200 day moving average is $15.36. The firm has a market capitalization of $183.74 million and a PE ratio of 39.44.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, November 12th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business had revenue of $15.80 million for the quarter, compared to the consensus estimate of $18.50 million. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts expect that Clearfield will post $0.40 earnings per share for the current fiscal year.

In related news, Director Charles N. Hayssen bought 3,000 shares of the company’s stock in a transaction on Tuesday, November 17th. The shares were purchased at an average cost of $12.01 per share, with a total value of $36,030.00. Following the completion of the transaction, the director now directly owns 168,432 shares of the company’s stock, valued at $2,022,868.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ronald G. Roth bought 10,000 shares of the company’s stock in a transaction on Monday, November 30th. The stock was bought at an average cost of $13.60 per share, for a total transaction of $136,000.00. Following the completion of the transaction, the chairman now directly owns 1,193,047 shares of the company’s stock, valued at $16,225,439.20. The disclosure for this purchase can be found here.

Several brokerages have commented on CLFD. Zacks Investment Research lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Tuesday, December 8th. Northland Securities began coverage on shares of Clearfield in a research report on Wednesday, September 30th. They set an “outperform” rating and a $17.50 target price on the stock. TheStreet lowered shares of Clearfield from a “buy” rating to a “hold” rating in a research report on Thursday, November 12th. Finally, Lake Street Capital began coverage on shares of Clearfield in a research report on Monday, November 23rd. They set a “buy” rating and a $15.00 target price on the stock.

12 Month Chart for NASDAQ:CLFD

Clearfield, Inc. (NASDAQ:CLFD) manufactures, markets and sells an end-to-end 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 has extends this product line with a fiber delivery platform of optical cable, connectors and microduct that delivers fiber to environments previously not economically or environmentally viable. The Company has established as a value-added supplier to its target market of broadband service providers, including independent local exchange carriers (telephone), multiple service operators (cable), wireless service providers, non-traditional providers and municipal-owned utilities. The Company deploys a hybrid sales model with some sales made directly to the customer, some made through two-tier distribution partners and some sales through original equipment suppliers who private label its products.

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