Clearfield, Inc. (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. “
Several other equities analysts have also recently weighed in on CLFD. Lake Street Capital lifted their price target on Clearfield from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Northland Securities set a $15.00 price target on Clearfield and gave the company a “buy” rating in a research report on Tuesday, October 17th.
Shares of Clearfield (NASDAQ CLFD) traded up $0.05 during trading on Tuesday, reaching $12.45. The company had a trading volume of 16,500 shares, compared to its average volume of 54,610. The company has a market capitalization of $172.79, a price-to-earnings ratio of 44.29 and a beta of 1.26. Clearfield has a 1-year low of $11.00 and a 1-year high of $21.60.
Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $18.42 million for the quarter, compared to analyst estimates of $19.50 million. Clearfield had a return on equity of 5.94% and a net margin of 5.20%. equities analysts forecast that Clearfield will post 0.35 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. American International Group Inc. grew its position in 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 buying an additional 461 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Clearfield by 4.5% in the 2nd 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 in the last quarter. Citadel Advisors LLC purchased a new position in shares of Clearfield in the 3rd quarter worth about $145,000. Wells Fargo & Company MN boosted its holdings in shares of Clearfield by 63.6% in the 3rd quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 4,773 shares in the last quarter. Finally, Concourse Capital Management LLC purchased a new position in shares of Clearfield in the 3rd quarter worth about $226,000. Institutional investors and hedge funds own 28.31% of the company’s stock.
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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