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

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. “

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Separately, Lake Street Capital reaffirmed a “buy” rating on shares of Clearfield in a research note on Saturday, December 30th.

Shares of CLFD stock traded up $0.20 during trading on Wednesday, reaching $13.35. The company’s stock had a trading volume of 23,256 shares, compared to its average volume of 32,206. The stock has a market cap of $189.89, a PE ratio of 46.04 and a beta of 1.07. Clearfield has a 1-year low of $11.00 and a 1-year high of $17.17.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The business had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $18.30 million. Clearfield had a return on equity of 6.00% and a net margin of 5.39%. equities analysts anticipate that Clearfield will post 0.43 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position 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 buying an additional 424 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Clearfield by 26.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the communications equipment provider’s stock worth $260,000 after buying an additional 4,500 shares during the last quarter. Wells Fargo & Company MN grew its position 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 buying an additional 4,773 shares during the last quarter. Northern Trust Corp grew its position in shares of Clearfield by 6.3% in 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. Finally, Citadel Advisors LLC bought a new stake in shares of Clearfield in the 3rd quarter worth approximately $145,000. 31.27% of the stock is currently owned by institutional investors and hedge funds.

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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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