Clearfield (NASDAQ:CLFD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, April 2nd.
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, Lake Street Capital reissued a “buy” rating on shares of Clearfield in a report on Saturday, December 30th.
Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $16.87 million during the quarter, compared to the consensus estimate 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 fiscal year.
A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings 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 acquiring an additional 424 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Clearfield in the 3rd quarter worth approximately $145,000. Wells Fargo & Company MN grew its holdings 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 acquiring an additional 4,773 shares during the period. Virtu Financial LLC acquired a new stake in shares of Clearfield in the 4th quarter worth approximately $229,000. Finally, Sei Investments Co. acquired a new stake in shares of Clearfield in the 3rd quarter worth approximately $272,000. Hedge funds and other institutional investors own 31.27% of the company’s stock.
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Clearfield Company Profile
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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