Calix (NYSE:CALX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other brokerages also recently commented on CALX. Rosenblatt Securities boosted their target price on Calix from $35.00 to $45.00 and gave the stock a buy rating in a report on Wednesday. Jefferies Financial Group cut shares of Calix from a buy rating to a hold rating and dropped their price objective for the stock from $48.00 to $30.00 in a research report on Thursday, April 25th. Roth Mkm boosted 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 restated a buy rating and issued a $45.00 price objective on shares of Calix in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $42.50.

Calix Price Performance

Shares of CALX opened at $36.68 on Wednesday. The company has a market capitalization of $2.41 billion, a P/E ratio of 118.32 and a beta of 1.76. Calix has a one year low of $26.76 and a one year high of $48.53. The business’s 50 day simple moving average is $34.88 and its 200-day simple moving average is $34.40.

Calix (NYSE:CALX) last announced its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $198.14 million for 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%. Calix’s revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. On average, sell-side analysts anticipate that Calix will post -0.36 EPS for the current fiscal year.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its position in shares of Calix by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock valued at $1,038,000 after acquiring an additional 300 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Calix by 4.4% during the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock valued at $256,000 after acquiring an additional 301 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after acquiring an additional 303 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 348 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its position in shares of Calix by 4.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,780 shares of the communications equipment provider’s stock valued at $384,000 after buying an additional 375 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.