Calix, Inc. (NYSE:CALX) Receives Consensus Rating of “Moderate Buy” from Analysts

Calix, Inc. (NYSE:CALX) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $42.50.

CALX has been the topic of a number of research analyst reports. Craig Hallum lifted their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday, October 29th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. Finally, StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CALX. Vanguard Group Inc. increased its stake in Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Divisar Capital Management LLC purchased a new position in shares of Calix in the 2nd quarter valued at $15,876,000. Congress Asset Management Co. raised its stake in Calix by 30.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after acquiring an additional 361,805 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Calix by 200.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider’s stock valued at $13,364,000 after acquiring an additional 229,871 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Calix by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock worth $38,600,000 after purchasing an additional 219,699 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Stock Down 5.9 %

NYSE CALX opened at $30.43 on Thursday. The business’s fifty day simple moving average is $36.39 and its 200-day simple moving average is $35.66. The firm has a market cap of $2.02 billion, a PE ratio of -126.79 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 earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $200.95 million for the quarter, compared to analyst estimates of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. Calix’s revenue was down 23.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Research analysts expect that Calix will post -0.34 EPS for the current 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.