Clearfield (CLFD) Downgraded by ValuEngine

ValuEngine lowered shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a report issued on Monday morning.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Clearfield from a buy rating to a hold rating in a research note on Monday. Lake Street Capital reissued a buy rating on shares of Clearfield in a research note on Saturday, December 30th.

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Shares of NASDAQ:CLFD traded up $0.40 during midday trading on Monday, hitting $13.75. The company had a trading volume of 15,230 shares, compared to its average volume of 30,201. Clearfield has a twelve month low of $11.00 and a twelve month high of $16.50. The stock has a market cap of $174.01, a PE ratio of 47.68 and a beta of 1.07.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $16.87 million during the quarter, compared to analysts’ expectations of $18.30 million. Clearfield had a return on equity of 6.00% and a net margin of 5.39%. sell-side analysts forecast that Clearfield will post 0.43 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in Clearfield during the third quarter worth $272,000. Dimensional Fund Advisors LP increased its stake in Clearfield by 9.7% during the third quarter. Dimensional Fund Advisors LP now owns 433,791 shares of the communications equipment provider’s stock worth $5,900,000 after acquiring an additional 38,196 shares during the last quarter. WCM Investment Management CA increased its stake in Clearfield by 55.7% during the fourth quarter. WCM Investment Management CA now owns 311,514 shares of the communications equipment provider’s stock worth $3,816,000 after acquiring an additional 111,499 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Clearfield by 26.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the communications equipment provider’s stock worth $260,000 after acquiring an additional 4,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Clearfield by 222.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,815 shares of the communications equipment provider’s stock worth $132,000 after acquiring an additional 7,461 shares during the last quarter. 31.27% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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