Clearfield (CLFD) Stock Rating Lowered by Zacks Investment Research

Clearfield (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Separately, ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th.

CLFD opened at $13.40 on Wednesday. The company has a market capitalization of $176.22 million, a price-to-earnings ratio of 47.86 and a beta of 1.20. Clearfield has a 1-year low of $10.35 and a 1-year high of $15.30.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $21.48 million during the quarter, compared to the consensus estimate of $21.50 million. Clearfield had a return on equity of 7.10% and a net margin of 4.96%. equities analysts predict that Clearfield will post 0.29 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Clearfield by 3.2% in the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after purchasing an additional 25,107 shares during the period. Royal Bank of Canada lifted its position in Clearfield by 11.7% in the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after purchasing an additional 13,275 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Clearfield by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after purchasing an additional 4,107 shares during the period. Hedge funds and other institutional investors own 29.09% of the company’s stock.

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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

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