Clearfield (NASDAQ:CLFD) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Zacks Investment Research downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th.

Shares of NASDAQ:CLFD opened at $12.08 on Tuesday. Clearfield has a fifty-two week low of $10.35 and a fifty-two week high of $15.30. The stock has a market cap of $168.66 million, a P/E ratio of 37.75 and a beta of 1.18.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. Clearfield had a net margin of 5.51% and a return on equity of 7.91%. The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $20.50 million. On average, research analysts expect that Clearfield will post 0.3 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Clearfield during the 3rd quarter valued at about $176,000. Bank of New York Mellon Corp boosted its stake in Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after purchasing an additional 4,107 shares during the period. Royal Bank of Canada boosted its stake in Clearfield by 11.7% during the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock valued at $1,631,000 after purchasing an additional 13,275 shares during the period. Renaissance Technologies LLC boosted its stake in Clearfield by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 7,700 shares during the period. Finally, BlackRock Inc. boosted its stake in Clearfield by 3.2% during the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after purchasing an additional 25,107 shares during the period. 28.72% of the stock is owned by institutional investors and hedge funds.

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.

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