Clearfield (CLFD) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Clearfield (NASDAQ:CLFD) from a sell rating to a hold rating in a research note released on Friday morning.

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. “

A number of other research analysts also recently issued reports on the company. Lake Street Capital reiterated a buy rating on shares of Clearfield in a report on Saturday, December 30th. Northland Securities set a $15.00 price target on Clearfield and gave the company a buy rating in a report on Tuesday, October 17th.

Clearfield (NASDAQ CLFD) opened at $12.25 on Friday. Clearfield has a fifty-two week low of $11.00 and a fifty-two week high of $18.60. The stock has a market capitalization of $164.34, a price-to-earnings ratio of 41.03 and a beta of 1.26.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Clearfield had a return on equity of 6.03% and a net margin of 5.39%. The business had revenue of $16.87 million for the quarter, compared to the consensus estimate of $18.30 million. analysts expect that Clearfield will post 0.29 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Clearfield by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 462,784 shares of the communications equipment provider’s stock worth $6,108,000 after buying an additional 15,178 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Clearfield by 9.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 433,791 shares of the communications equipment provider’s stock worth $5,900,000 after buying an additional 38,196 shares during the last quarter. WCM Investment Management CA grew its stake in Clearfield by 275.5% during the 3rd quarter. WCM Investment Management CA now owns 200,015 shares of the communications equipment provider’s stock worth $2,720,000 after buying an additional 146,744 shares during the last quarter. State Street Corp grew its stake in Clearfield by 7.5% during the 2nd quarter. State Street Corp now owns 167,057 shares of the communications equipment provider’s stock worth $2,204,000 after buying an additional 11,632 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Clearfield by 6.3% during the 2nd quarter. Northern Trust Corp now owns 152,805 shares of the communications equipment provider’s stock worth $2,017,000 after buying an additional 9,073 shares during the last quarter. Hedge funds and other institutional investors own 28.93% 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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