Brokerages Set Calix, Inc. (NYSE:CALX) PT at $42.50

Shares of Calix, Inc. (NYSE:CALX) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.50.

CALX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on 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 Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Craig Hallum raised their price target on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities raised their price target on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th.

Calix Trading Down 6.5 %

NYSE CALX opened at $34.48 on Friday. The stock has a 50-day simple moving average of $36.55 and a 200 day simple moving average of $34.19. The company has a market capitalization of $2.26 billion, a PE ratio of 111.23 and a beta of 1.74. Calix has a 12 month low of $26.76 and a 12 month high of $47.93.

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

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ariadne Wealth Management LP bought a new position in Calix in the second quarter valued at approximately $60,000. Creative Planning bought a new position in Calix in the second quarter valued at approximately $513,000. Susquehanna Fundamental Investments LLC bought a new position in Calix in the second quarter valued at approximately $430,000. Mackenzie Financial Corp bought a new position in Calix in the second quarter valued at approximately $248,000. Finally, The Manufacturers Life Insurance Company grew its stake in Calix by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock valued at $1,168,000 after purchasing an additional 857 shares in the last quarter. 98.14% of the stock is currently 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.