ValuEngine downgraded shares of Clearfield (NASDAQ:CLFD) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other research firms have also issued reports on CLFD. Zacks Investment Research lowered shares of Clearfield from a buy rating to a hold rating in a report on Tuesday, April 24th. Lake Street Capital set a $15.00 target price on shares of Clearfield and gave the stock a buy rating in a report on Friday, April 27th.

Clearfield stock opened at $13.05 on Tuesday. The stock has a market capitalization of $185.10 million, a PE ratio of 46.61 and a beta of 1.02. Clearfield has a 12-month low of $10.35 and a 12-month high of $15.30.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, July 26th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The firm had revenue of $21.48 million during the quarter, compared to analyst estimates of $21.50 million. Clearfield had a net margin of 4.96% and a return on equity of 7.10%. research analysts expect that Clearfield will post 0.29 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CLFD. Wells Fargo & Company MN increased its stake in Clearfield by 42.0% in the 4th quarter. Wells Fargo & Company MN now owns 17,436 shares of the communications equipment provider’s stock worth $213,000 after buying an additional 5,160 shares during the period. Deutsche Bank AG increased its stake in Clearfield by 84.5% in the 4th quarter. Deutsche Bank AG now owns 25,568 shares of the communications equipment provider’s stock worth $312,000 after buying an additional 11,710 shares during the period. Royal Bank of Canada increased its stake in Clearfield by 11.7% in the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after buying an additional 13,275 shares during the period. Bank of New York Mellon Corp increased its stake in Clearfield by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after buying an additional 4,107 shares during the period. Finally, BlackRock Inc. increased its stake in Clearfield by 3.2% in the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after buying an additional 25,107 shares during the period. 31.56% 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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