Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors 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. “

Several other equities analysts have also recently weighed in on the company. Lake Street Capital restated 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.

Shares of Clearfield (CLFD) traded down $0.20 on Wednesday, reaching $12.25. The company had a trading volume of 23,762 shares, compared to its average volume of 26,286. The company has a market cap of $172.23, a P/E ratio of 43.75 and a beta of 1.26. Clearfield has a 52 week low of $11.00 and a 52 week high of $20.95.

Clearfield (NASDAQ:CLFD) last issued its 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. The company had revenue of $18.42 million for the quarter, compared to the consensus estimate of $19.50 million. Clearfield had a return on equity of 5.95% and a net margin of 5.20%. equities analysts predict that Clearfield will post 0.29 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in CLFD. WCM Investment Management CA boosted its holdings 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 worth $2,720,000 after purchasing an additional 146,744 shares during the period. Dimensional Fund Advisors LP boosted its holdings 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. Worth Venture Partners LLC purchased a new position in shares of Clearfield in the 2nd quarter worth approximately $353,000. Sei Investments Co. purchased a new position in shares of Clearfield in the 3rd quarter worth approximately $272,000. Finally, WFG Advisors LP purchased a new position in shares of Clearfield in the 2nd quarter worth approximately $231,000. 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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