Clearfield, Inc. (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “

Several other research analysts have also recently commented on the stock. Northland Securities set a $15.00 target price on shares of Clearfield and gave the stock a “buy” rating in a report on Saturday, July 29th. Lake Street Capital raised their target price on shares of Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday.

Shares of Clearfield (CLFD) traded up $0.05 on Tuesday, hitting $12.45. 16,500 shares of the company’s stock traded hands, compared to its average volume of 54,610. Clearfield has a one year low of $11.00 and a one year high of $21.60. The firm has a market capitalization of $172.79, a PE ratio of 44.29 and a beta of 1.26.

Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Clearfield had a net margin of 5.20% and a return on equity of 5.94%. The company had revenue of $18.42 million during the quarter, compared to analysts’ expectations of $19.50 million. equities research analysts forecast that Clearfield will post 0.35 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Clearfield by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,025 shares of the communications equipment provider’s stock worth $430,000 after purchasing an additional 106 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Clearfield by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,905 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 424 shares during the period. American International Group Inc. boosted its holdings in shares of Clearfield by 7.0% during the first quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock worth $116,000 after purchasing an additional 461 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Clearfield by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 50,902 shares of the communications equipment provider’s stock worth $672,000 after purchasing an additional 982 shares during the period. Finally, Cadence Capital Management LLC boosted its holdings in shares of Clearfield by 2.5% during the fourth quarter. Cadence Capital Management LLC now owns 51,769 shares of the communications equipment provider’s stock worth $1,072,000 after purchasing an additional 1,256 shares during the period. Institutional investors and hedge funds own 28.31% of the company’s stock.

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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