Calix, Inc. (NYSE:CALX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Calix, Inc. (NYSE:CALX) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.50.

CALX has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Rosenblatt Securities boosted their price target on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the transaction, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

Large investors have recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in shares of 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 valued at $70,380,000 after acquiring an additional 1,349,625 shares during the period. Quantbot Technologies LP acquired a new position in shares of Calix during the first quarter valued at $1,145,000. Epoch Investment Partners Inc. lifted its stake in shares of Calix by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after acquiring an additional 219,699 shares during the period. Congress Asset Management Co. MA lifted its stake in shares of Calix by 9.6% during the fourth quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock valued at $38,259,000 after acquiring an additional 76,546 shares during the period. Finally, FORA Capital LLC acquired a new position in shares of Calix during the first quarter valued at $724,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Trading Down 6.5 %

CALX opened at $34.48 on Friday. The stock has a market cap of $2.26 billion, a PE ratio of 111.23 and a beta of 1.74. Calix has a 1 year low of $26.76 and a 1 year high of $47.93. The stock’s 50 day simple moving average is $36.55 and its 200-day simple moving average is $34.19.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. Calix’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. Equities analysts forecast that Calix will post -0.36 earnings per share for the current fiscal year.

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.