Calix, Inc. (NYSE:CALX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Calix, Inc. (NYSE:CALX) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.50.

A number of brokerages recently weighed in on CALX. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Craig Hallum raised their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th.

Calix Stock Down 2.0 %

Shares of NYSE CALX opened at $39.12 on Friday. The stock’s 50 day moving average price is $37.39 and its two-hundred day moving average price is $34.88. Calix has a 52-week low of $26.76 and a 52-week high of $45.21. The stock has a market capitalization of $2.56 billion, a P/E ratio of 126.19 and a beta of 1.74.

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

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.69% of the company’s stock.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently modified their holdings of CALX. Vanguard Group Inc. raised its holdings in shares of Calix by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Calix by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock worth $63,546,000 after buying an additional 45,656 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after acquiring an additional 166,695 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of Calix by 9.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after acquiring an additional 115,500 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Calix by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock worth $38,600,000 after acquiring an additional 219,699 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.