Calix (NYSE:CALX) Rating Lowered to Sell at StockNews.com

Calix (NYSE:CALX) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Craig Hallum boosted their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Roth Mkm boosted their price target on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities increased their price objective on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.50.

Calix Price Performance

NYSE CALX traded down $1.10 during trading on Wednesday, hitting $36.21. 658,850 shares of the company’s stock traded hands, compared to its average volume of 779,790. The firm has a market cap of $2.37 billion, a P/E ratio of 116.81 and a beta of 1.74. The stock has a fifty day moving average of $36.72 and a two-hundred day moving average of $34.24. Calix has a 12-month low of $26.76 and a 12-month high of $47.15.

Calix (NYSE:CALX) last issued its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. As a group, analysts expect that Calix will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares in the company, valued at $139,850,190.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC grew its holdings in Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 1,103 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Calix in the 1st quarter worth approximately $48,000. Ariadne Wealth Management LP bought a new position in Calix during the 2nd quarter valued at approximately $60,000. Quadrant Capital Group LLC raised its stake in Calix by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 348 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Calix by 41.5% during the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 655 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.