Clearfield (NASDAQ:CLFD) Downgraded by Zacks Investment Research to Hold

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. “

How to Become a New Pot Stock Millionaire

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

NASDAQ:CLFD traded up $0.10 during midday trading on Monday, reaching $13.45. The company had a trading volume of 14,484 shares, compared to its average volume of 29,424. The firm has a market cap of $182.98, a PE ratio of 45.69 and a beta of 1.07. Clearfield has a 12-month low of $11.00 and a 12-month high of $16.50.

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.

COPYRIGHT VIOLATION NOTICE: “Clearfield (NASDAQ:CLFD) Downgraded by Zacks Investment Research to Hold” was first posted by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://weekherald.com/2018/04/17/zacks-investment-research-downgrades-clearfield-clfd-to-hold.html.

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.

Get a free copy of the Zacks research report on Clearfield (CLFD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Clearfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearfield and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply