Clearfield (CLFD) Lowered to “Sell” at Zacks Investment Research

Clearfield (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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 brokerages have also issued reports on CLFD. Lake Street Capital boosted their price target on Clearfield from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Northland Securities set a $15.00 price target on Clearfield and gave the company a “buy” rating in a research note on Tuesday, October 17th.

Shares of Clearfield (CLFD) traded up $0.30 on Tuesday, reaching $12.60. The company had a trading volume of 16,000 shares, compared to its average volume of 23,355. Clearfield has a 1 year low of $11.00 and a 1 year high of $19.95. The company has a market capitalization of $169.87, a price-to-earnings ratio of 45.00 and a beta of 1.26.

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

Several hedge funds have recently added to or reduced their stakes in CLFD. WCM Investment Management CA grew its stake in shares of Clearfield by 275.5% in the 3rd quarter. WCM Investment Management CA now owns 200,015 shares of the communications equipment provider’s stock valued at $2,720,000 after purchasing an additional 146,744 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Clearfield by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 395,595 shares of the communications equipment provider’s stock valued at $5,222,000 after purchasing an additional 71,307 shares during the period. Worth Venture Partners LLC bought a new stake in shares of Clearfield in the 2nd quarter valued at approximately $353,000. Sei Investments Co. bought a new stake in shares of Clearfield in the 3rd quarter valued at approximately $272,000. Finally, WFG Advisors LP bought a new stake in shares of Clearfield in the 2nd quarter valued at approximately $231,000. 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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