Calix (NYSE:CALX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other equities analysts have also commented on CALX. Needham & Company LLC reiterated a buy rating and set a $45.00 price target on shares of Calix in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Calix from $28.00 to $41.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Craig Hallum lifted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a buy rating in a report on Wednesday. Rosenblatt Securities lifted their price target on shares of Calix from $35.00 to $45.00 and gave the stock a buy rating in a report on Wednesday. Finally, Roth Mkm lifted their price target on shares of Calix from $43.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $42.50.

Calix Price Performance

Shares of Calix stock opened at $36.68 on Wednesday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $48.53. The firm has a market capitalization of $2.41 billion, a P/E ratio of 118.32 and a beta of 1.76. The company’s 50 day moving average price is $34.88 and its two-hundred day moving average price is $34.40.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $198.14 million for the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. Calix’s revenue was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, analysts expect that Calix will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently bought and sold shares of CALX. TD Asset Management Inc raised its stake in Calix by 516.6% during the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after buying an additional 1,349,625 shares during the last quarter. Vanguard Group Inc. increased its stake in Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Calix by 213.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock valued at $41,259,000 after purchasing an additional 643,392 shares in the last quarter. Norges Bank bought a new stake in Calix in the fourth quarter valued at $26,483,000. Finally, Assenagon Asset Management S.A. increased its stake in Calix by 175.1% in 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 purchasing an additional 386,318 shares in the last quarter. 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.