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

Shares of Calix, Inc. (NYSE:CALX) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $42.50.

A number of research firms have recently issued reports on CALX. Roth Mkm increased their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Tuesday, October 29th. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Craig Hallum increased their price objective on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Calix by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock valued at $1,038,000 after buying an additional 300 shares during the period. Portside Wealth Group LLC increased its position in shares of Calix by 4.4% during the second quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock valued at $256,000 after buying an additional 301 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Calix by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after buying an additional 303 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Calix by 29.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 318 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Calix by 187.9% during the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 436 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Stock Performance

Shares of NYSE:CALX opened at $30.82 on Thursday. The company has a fifty day moving average of $36.88 and a 200-day moving average of $35.60. The company has a market capitalization of $2.04 billion, a PE ratio of -128.42 and a beta of 1.75. Calix has a 52-week low of $26.76 and a 52-week high of $45.15.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. Calix’s quarterly revenue was down 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities analysts forecast that Calix will post -0.34 EPS 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.