Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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 research firms have also commented on CLFD. TheStreet raised shares of Clearfield from a “c+” rating to a “b” rating in a research report on Monday, March 4th. ValuEngine raised shares of Clearfield from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th.

NASDAQ:CLFD traded up $0.15 during mid-day trading on Friday, reaching $14.19. The company’s stock had a trading volume of 19,776 shares, compared to its average volume of 28,433. Clearfield has a 12-month low of $8.41 and a 12-month high of $16.75. The firm has a market cap of $193.89 million, a price-to-earnings ratio of 44.34 and a beta of 1.64.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, April 25th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Clearfield had a net margin of 6.03% and a return on equity of 7.22%. The business had revenue of $19.08 million for the quarter, compared to analysts’ expectations of $19.00 million. As a group, sell-side analysts anticipate that Clearfield will post 0.3 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in shares of Clearfield by 1,718.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 2,251 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Clearfield by 123.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 4,935 shares during the last quarter. Rhumbline Advisers increased its position in shares of Clearfield by 47.0% during the 4th quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 4,902 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Clearfield by 5.6% during the 1st quarter. Wells Fargo & Company MN now owns 18,631 shares of the communications equipment provider’s stock valued at $274,000 after purchasing an additional 983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Clearfield by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 27,093 shares of the communications equipment provider’s stock valued at $399,000 after purchasing an additional 2,602 shares during the last quarter. 29.11% of the stock is owned by hedge funds and other institutional investors.

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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