Zacks Investment Research lowered shares of Clearfield, Inc. (NASDAQ:CLFD) from a hold rating to a sell rating in a report released on Tuesday.

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. “

CLFD has been the topic of several other reports. Lake Street Capital upped their price objective on shares of Clearfield from $15.00 to $16.00 and gave the company a buy rating in a report on Friday, November 10th. Northland Securities set a $15.00 price objective on shares of Clearfield and gave the company a buy rating in a report on Tuesday, October 17th.

Shares of Clearfield (CLFD) traded down $0.05 during mid-day trading on Tuesday, hitting $13.25. 19,113 shares of the stock were exchanged, compared to its average volume of 54,254. The company has a market capitalization of $173.49, a price-to-earnings ratio of 44.46 and a beta of 1.26. Clearfield has a twelve month low of $11.00 and a twelve month high of $21.60.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, November 9th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Clearfield had a net margin of 5.20% and a return on equity of 5.94%. The firm had revenue of $18.42 million for the quarter, compared to the consensus estimate of $19.50 million. analysts forecast that Clearfield will post 0.29 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Clearfield by 12.7% in the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock valued at $7,363,000 after acquiring an additional 50,391 shares during the period. Renaissance Technologies LLC boosted its position in shares of Clearfield by 8.9% in the first quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock valued at $8,509,000 after acquiring an additional 42,087 shares during the period. Worth Venture Partners LLC bought a new stake in shares of Clearfield in the second quarter valued at about $353,000. Dimensional Fund Advisors LP boosted its position in shares of Clearfield by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock valued at $5,335,000 after acquiring an additional 7,645 shares during the period. Finally, WCM Investment Management CA boosted its position in shares of Clearfield by 275.5% in the third quarter. WCM Investment Management CA now owns 200,015 shares of the communications equipment provider’s stock valued at $2,720,000 after acquiring an additional 146,744 shares during the period. 28.31% of the stock is owned by institutional investors.

About Clearfield

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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