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

CLFD has been the subject of several other reports. Lake Street Capital reissued a “buy” rating on shares of Clearfield in a research note on Saturday, December 30th. Northland Securities set a $15.00 price target on shares of Clearfield and gave the stock a “buy” rating in a research note on Tuesday, October 17th.

Clearfield (NASDAQ:CLFD) traded down $0.05 during trading on Tuesday, reaching $12.30. 24,319 shares of the company’s stock traded hands, compared to its average volume of 24,090. The company has a market capitalization of $170.55, a P/E ratio of 43.93 and a beta of 1.26. Clearfield has a 1-year low of $11.00 and a 1-year high of $20.15.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $18.42 million during the quarter, compared to the consensus estimate of $19.50 million. Clearfield had a net margin of 5.20% and a return on equity of 5.95%. equities research analysts forecast that Clearfield will post 0.29 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Worth Venture Partners LLC purchased a new position in shares of Clearfield in the second quarter valued at about $353,000. Dimensional Fund Advisors LP increased its position in shares of Clearfield by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 395,595 shares of the communications equipment provider’s stock valued at $5,222,000 after acquiring an additional 71,307 shares during the period. Sei Investments Co. purchased a new position in shares of Clearfield in the third quarter valued at about $272,000. WCM Investment Management CA increased its position in shares of Clearfield by 275.5% in the third quarter. WCM Investment Management CA now owns 200,015 shares of the communications equipment provider’s stock valued at $2,720,000 after acquiring an additional 146,744 shares during the period. Finally, Northern Trust Corp increased its position in shares of Clearfield by 6.3% in the second quarter. Northern Trust Corp now owns 152,805 shares of the communications equipment provider’s stock valued at $2,017,000 after acquiring an additional 9,073 shares during the period. Hedge funds and other institutional investors own 29.01% of the company’s stock.

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About Clearfield

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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