Clearfield (NASDAQ:CLFD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to 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. “
A number of other brokerages have also weighed in on CLFD. Lake Street Capital upped their target price on Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Northland Securities set a $15.00 target price on Clearfield and gave the stock a “buy” rating in a research note on Tuesday, October 17th.
Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $18.42 million for the quarter, compared to analyst estimates of $19.50 million. Clearfield had a return on equity of 5.95% and a net margin of 5.20%. equities analysts anticipate that Clearfield will post 0.29 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted 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 purchasing an additional 424 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Clearfield by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 50,902 shares of the communications equipment provider’s stock worth $672,000 after purchasing an additional 982 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Clearfield by 12.5% in the 2nd quarter. Royal Bank of Canada now owns 26,485 shares of the communications equipment provider’s stock worth $350,000 after purchasing an additional 2,941 shares in the last quarter. OxFORD Asset Management LLP boosted its holdings in shares of Clearfield by 21.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 17,789 shares of the communications equipment provider’s stock worth $235,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Wells Fargo & Company MN boosted 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 purchasing an additional 4,773 shares in the last quarter. Hedge funds and other institutional investors own 29.01% of the company’s stock.
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Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
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