Calix (NYSE:CALX) Earns “Buy” Rating from Rosenblatt Securities

Calix (NYSE:CALX)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued on Thursday, Benzinga reports. They presently have a $45.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 19.55% from the stock’s previous close.

CALX has been the topic of several other research reports. Craig Hallum boosted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Friday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. Finally, Roth Mkm raised their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Trading Down 1.4 %

NYSE:CALX traded down $0.53 during trading hours on Thursday, reaching $37.64. The company had a trading volume of 22,046 shares, compared to its average volume of 761,451. Calix has a 52 week low of $26.76 and a 52 week high of $46.29. The firm’s 50 day moving average price is $37.35 and its 200-day moving average price is $34.48. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 121.42 and a beta of 1.74.

Calix (NYSE:CALX) last issued 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. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. On average, analysts forecast that Calix will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the company’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 value of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Calix

Several large investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC boosted its holdings in shares of Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Calix by 213.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock valued at $41,259,000 after purchasing an additional 643,392 shares in the last quarter. Seven Eight Capital LP increased its holdings in shares of Calix by 18.9% in the 4th quarter. Seven Eight Capital LP now owns 18,312 shares of the communications equipment provider’s stock valued at $800,000 after purchasing an additional 2,910 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Calix by 28.6% in the 4th quarter. Neuberger Berman Group LLC now owns 167,851 shares of the communications equipment provider’s stock valued at $7,333,000 after purchasing an additional 37,333 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in shares of Calix by 9.6% in the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock valued at $38,259,000 after purchasing an additional 76,546 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other 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.