Rosenblatt Securities Increases Calix (NYSE:CALX) Price Target to $45.00

Calix (NYSE:CALX) had its price objective raised by equities research analysts at Rosenblatt Securities from $35.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 29.68% from the stock’s current price.

CALX has been the topic of a number of other reports. Jefferies Financial Group lowered Calix from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $30.00 in a research note on Thursday, April 25th. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum decreased their price target on shares of Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday. Finally, StockNews.com lowered Calix from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.50.

Calix Trading Up 0.2 %

CALX stock opened at $34.70 on Wednesday. The firm has a 50 day moving average of $34.78 and a 200-day moving average of $34.51. The firm has a market capitalization of $2.27 billion, a P/E ratio of 111.94 and a beta of 1.76. Calix has a 12 month low of $26.76 and a 12 month high of $48.53.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.20%. The business’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Sell-side analysts predict that Calix will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Calix

Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after purchasing an additional 1,349,625 shares during the last quarter. Vanguard Group Inc. boosted its position in Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after buying an additional 900,713 shares during the period. Epoch Investment Partners Inc. grew its holdings in Calix by 213.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after acquiring an additional 643,392 shares during the last quarter. Norges Bank purchased a new position in shares of Calix in the fourth quarter valued at about $26,483,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Calix by 175.1% during the first quarter. Assenagon Asset Management S.A. now owns 607,001 shares of the communications equipment provider’s stock valued at $20,128,000 after acquiring an additional 386,318 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Company Profile

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.