Clearfield, Inc. (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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. “

Clearfield (NASDAQ CLFD) traded up 0.75% during trading on Tuesday, hitting $13.35. 28,809 shares of the stock traded hands. The firm’s 50-day moving average is $13.69 and its 200 day moving average is $16.72. The stock has a market cap of $188.15 million, a P/E ratio of 26.75 and a beta of 1.36. Clearfield has a 52 week low of $12.20 and a 52 week high of $21.60.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Friday, April 28th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Clearfield had a net margin of 8.58% and a return on equity of 10.68%. The company had revenue of $17.70 million for the quarter, compared to the consensus estimate of $20.85 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Clearfield will post $0.32 earnings per share for the current fiscal year.

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In other Clearfield news, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average price of $14.14 per share, with a total value of $70,700.00. Following the completion of the purchase, the chairman now directly owns 1,219,170 shares of the company’s stock, valued at approximately $17,239,063.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Clearfield by 8.9% in the first quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock worth $8,509,000 after buying an additional 42,087 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Clearfield by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock worth $5,335,000 after buying an additional 7,645 shares during the period. Geode Capital Management LLC increased its position in shares of Clearfield by 8.4% in the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock worth $1,498,000 after buying an additional 7,038 shares during the period. Vanguard Group Inc. increased its position in shares of Clearfield by 12.7% in the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock worth $7,363,000 after buying an additional 50,391 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Clearfield by 7.9% in the first quarter. Teachers Advisors LLC now owns 18,822 shares of the communications equipment provider’s stock worth $310,000 after buying an additional 1,374 shares during the period. 27.15% of the stock is owned by institutional investors.

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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