Clearfield (NASDAQ:CLFD) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

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 CLFD stock opened at $11.71 on Thursday. Clearfield has a 12-month low of $10.35 and a 12-month high of $15.30. The firm has a market cap of $162.12 million, a PE ratio of 29.70 and a beta of 1.10.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. Clearfield had a net margin of 5.51% and a return on equity of 7.91%. The company 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 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Clearfield by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after purchasing an additional 4,107 shares during the last quarter. BlackRock Inc. boosted its holdings in Clearfield by 3.2% during the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after purchasing an additional 25,107 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Clearfield during the third quarter worth $176,000. Renaissance Technologies LLC boosted its holdings in Clearfield by 1.5% during the third quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Clearfield by 8.6% during the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock worth $6,556,000 after purchasing an additional 38,600 shares during the last quarter. 28.92% of the stock is owned by institutional investors.

About Clearfield

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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