Clearfield (CLFD) Stock Rating Lowered by Zacks Investment Research

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

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

Shares of NASDAQ:CLFD traded down $1.07 during midday trading on Tuesday, hitting $12.09. The stock had a trading volume of 62,600 shares, compared to its average volume of 29,250. The company has a market cap of $187.28 million, a price-to-earnings ratio of 37.78 and a beta of 1.18. Clearfield has a 1 year low of $10.35 and a 1 year high of $15.30.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, November 8th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.09. The business had revenue of $22.47 million for the quarter, compared to the consensus estimate of $20.50 million. Clearfield had a net margin of 5.51% and a return on equity of 7.99%. As a group, sell-side analysts forecast that Clearfield will post 0.4 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Clearfield by 11.7% during the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after buying an additional 13,275 shares in the last quarter. BlackRock Inc. boosted its holdings in Clearfield by 3.2% during the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after buying an additional 25,107 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Clearfield by 8.0% during 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 buying an additional 4,107 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Clearfield during the third quarter worth about $176,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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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