Clearfield (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “buy” 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. “

Separately, ValuEngine downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th.

Shares of NASDAQ:CLFD opened at $13.40 on Wednesday. Clearfield has a one year low of $10.35 and a one year high of $15.30. The firm has a market cap of $176.22 million, a PE ratio of 47.86 and a beta of 1.20.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Clearfield had a return on equity of 7.10% and a net margin of 4.96%. The company had revenue of $21.48 million during the quarter, compared to the consensus estimate of $21.50 million. sell-side analysts forecast that Clearfield will post 0.29 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in CLFD. Bank of New York Mellon Corp raised its stake in Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after purchasing an additional 4,107 shares during the period. Royal Bank of Canada raised its stake in Clearfield by 11.7% during the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock valued at $1,631,000 after purchasing an additional 13,275 shares during the period. Finally, BlackRock Inc. raised its stake in Clearfield by 3.2% during the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after purchasing an additional 25,107 shares during the period. 29.09% of the stock is currently owned by institutional investors.

About Clearfield

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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

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