Rosenblatt Securities Cuts Calix (NYSE:CALX) Price Target to $35.00

Calix (NYSE:CALX) had its price objective cut by Rosenblatt Securities from $45.00 to $35.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Several other equities analysts also recently commented on the stock. Roth Mkm reiterated a buy rating and issued a $50.00 price objective on shares of Calix in a report on Monday, April 22nd. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC restated a buy rating and issued a $50.00 price target on shares of Calix in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $41.33.

Calix Stock Up 0.6 %

Shares of CALX stock opened at $28.41 on Tuesday. The company’s fifty day simple moving average is $32.79 and its 200-day simple moving average is $37.27. Calix has a 12 month low of $26.76 and a 12 month high of $53.90. The firm has a market cap of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.64%. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC raised its holdings in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Calix by 194.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 1,011 shares during the period. Assetmark Inc. increased its position in Calix by 31.9% during the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 382 shares during the period. Quadrant Capital Group LLC increased its position in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Calix during the 3rd quarter valued at approximately $111,000. Institutional investors own 98.14% of the company’s stock.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.