Clearfield (NASDAQ:CLFD) Upgraded to Hold at Zacks Investment Research

Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

Several other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. TheStreet downgraded shares of Clearfield from a “b” rating to a “c+” rating in a research report on Friday, April 26th.

Clearfield stock traded down $0.38 during midday trading on Wednesday, hitting $13.38. 4,600 shares of the company’s stock were exchanged, compared to its average volume of 27,019. Clearfield has a 12-month low of $8.41 and a 12-month high of $16.75. The company has a market capitalization of $187.74 million, a P/E ratio of 41.81 and a beta of 1.61.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Clearfield had a return on equity of 7.22% and a net margin of 6.03%. The business had revenue of $19.08 million for the quarter, compared to analysts’ expectations of $19.00 million. As a group, sell-side analysts anticipate that Clearfield will post 0.3 earnings per share for the current year.

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Clearfield by 0.5% in the fourth quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock valued at $8,124,000 after acquiring an additional 3,920 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Clearfield by 8.6% in the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Clearfield by 123.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 4,935 shares during the period. Cadence Capital Management LLC acquired a new stake in shares of Clearfield in the first quarter valued at about $1,232,000. Finally, Geode Capital Management LLC lifted its stake in shares of Clearfield by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 111,925 shares of the communications equipment provider’s stock valued at $1,110,000 after purchasing an additional 5,110 shares during the period. 29.06% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Company Profile

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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