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

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

A number of research firms have recently issued reports on CALX. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target 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. Roth Mkm raised their price target 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. StockNews.com downgraded shares of Calix from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

Calix Price Performance

NYSE CALX opened at $39.31 on Wednesday. Calix has a 12 month low of $26.76 and a 12 month high of $47.15. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 126.81 and a beta of 1.74. The company’s fifty day moving average price is $37.07 and its two-hundred day moving average price is $34.30.

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, topping analysts’ consensus estimates of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, analysts anticipate that Calix will post -0.36 EPS for the current year.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.69% of the stock is currently owned by insiders.

Institutional Trading of Calix

Several large investors have recently added to or reduced their stakes in the business. Ariadne Wealth Management LP bought a new stake in Calix in the second quarter worth approximately $60,000. Creative Planning bought a new stake in Calix in the second quarter worth approximately $513,000. Susquehanna Fundamental Investments LLC bought a new stake in Calix in the second quarter worth approximately $430,000. Mackenzie Financial Corp bought a new stake in Calix in the second quarter worth approximately $248,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Calix by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock worth $1,168,000 after buying an additional 857 shares during the period. 98.14% of the stock is owned by institutional investors.

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.