Zacks Investment Research upgraded shares of Clearfield (NASDAQ:CLFD) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.
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. “
Other equities analysts have also recently issued reports about the company. TheStreet cut Clearfield from a b rating to a c+ rating in a research note on Friday, April 26th. ValuEngine raised Clearfield from a hold rating to a buy rating in a research note on Wednesday, February 13th.
Shares of CLFD traded down $0.11 during mid-day trading on Wednesday, hitting $14.25. 2,969 shares of the company’s stock traded hands, compared to its average volume of 30,420. Clearfield has a 1 year low of $8.41 and a 1 year high of $16.75. The stock has a market capitalization of $194.71 million, a PE ratio of 44.53 and a beta of 1.64.
Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Clearfield had a net margin of 6.03% and a return on equity of 7.22%. The business had revenue of $19.08 million for the quarter, compared to analysts’ expectations of $19.00 million. As a group, analysts forecast that Clearfield will post 0.3 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Clearfield by 0.5% during the fourth quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock valued at $8,124,000 after buying an additional 3,920 shares during the period. Renaissance Technologies LLC boosted its position in shares of Clearfield by 1.5% during the third quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 7,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Clearfield by 8.6% during the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Clearfield by 8.6% during the third quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Clearfield by 123.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 4,935 shares in the last quarter. 28.81% of the stock is currently owned by hedge funds and other institutional investors.
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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.
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