Clearfield (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

CLFD has been the topic of a number of other reports. Lake Street Capital restated a “buy” rating on shares of Clearfield in a report on Saturday, December 30th. Northland Securities set a $15.00 target price on shares of Clearfield and gave the stock a “buy” rating in a report on Tuesday, October 17th.

Clearfield (NASDAQ:CLFD) traded down $0.05 during trading on Tuesday, hitting $12.30. 24,319 shares of the stock were exchanged, compared to its average volume of 24,090. Clearfield has a 12-month low of $11.00 and a 12-month high of $20.15. The company has a market cap of $170.55, a P/E ratio of 43.93 and a beta of 1.26.

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

Several institutional investors have recently bought and sold shares of CLFD. Bank of New York Mellon Corp increased its holdings in shares of Clearfield by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 50,902 shares of the communications equipment provider’s stock worth $672,000 after buying an additional 982 shares during the last quarter. Northern Trust Corp lifted 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 purchasing an additional 9,073 shares during the period. Vanguard Group Inc. lifted its position in shares of Clearfield by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 462,784 shares of the communications equipment provider’s stock worth $6,108,000 after purchasing an additional 15,178 shares during the period. Dimensional Fund Advisors LP lifted its position 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 worth $5,222,000 after purchasing an additional 71,307 shares during the period. Finally, OxFORD Asset Management LLP lifted its position in shares of Clearfield by 21.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 17,789 shares of the communications equipment provider’s stock worth $235,000 after purchasing an additional 3,187 shares during the period. Hedge funds and other 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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