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

Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “

A number of other analysts also recently commented on the company. ValuEngine downgraded Clearfield from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. TheStreet downgraded Clearfield from a “b” rating to a “c+” rating in a research report on Friday, April 26th.

CLFD opened at $13.65 on Wednesday. The firm has a market cap of $188.02 million, a price-to-earnings ratio of 42.66 and a beta of 1.61. Clearfield has a one year low of $8.41 and a one year high of $16.75.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, April 25th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $19.08 million for the quarter, compared to analysts’ expectations of $19.00 million. Clearfield had a return on equity of 7.22% and a net margin of 6.03%. As a group, equities analysts predict that Clearfield will post 0.3 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLFD. BNP Paribas Arbitrage SA raised its holdings in shares of Clearfield by 1,718.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,251 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings 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 worth $88,000 after acquiring an additional 4,935 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Clearfield by 47.0% in the fourth quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 4,902 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Clearfield by 5.6% in the first quarter. Wells Fargo & Company MN now owns 18,631 shares of the communications equipment provider’s stock worth $274,000 after acquiring an additional 983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Clearfield by 10.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 27,093 shares of the communications equipment provider’s stock worth $399,000 after acquiring an additional 2,602 shares during the last quarter. 29.06% of the stock is owned by institutional investors.

About Clearfield

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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