StockNews.com Downgrades Calix (NYSE:CALX) to Sell

Calix (NYSE:CALX) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

CALX has been the topic of a number of other research reports. Craig Hallum upped their price target on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Rosenblatt Securities lifted their target price on shares of Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. Finally, Roth Mkm raised their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.50.

Calix Stock Down 2.9 %

NYSE CALX traded down $1.10 during trading hours on Wednesday, reaching $36.21. 658,850 shares of the company were exchanged, compared to its average volume of 779,790. The stock has a market capitalization of $2.37 billion, a P/E ratio of 116.81 and a beta of 1.74. Calix has a 1 year low of $26.76 and a 1 year high of $47.15. The business’s 50 day simple moving average is $36.72 and its 200-day simple moving average is $34.24.

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

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the firm’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 completion of the transaction, the director now directly owns 3,723,381 shares in the company, valued at $139,850,190.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its position in Calix by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after acquiring an additional 300 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in shares of Calix by 4.4% in the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after purchasing an additional 301 shares in the last quarter. Nisa Investment Advisors LLC increased 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 purchasing an additional 303 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Calix by 18.5% during 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, Victory Capital Management Inc. raised its holdings in shares of Calix by 3.3% during the 2nd quarter. Victory Capital Management Inc. now owns 20,262 shares of the communications equipment provider’s stock valued at $718,000 after buying an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

About Calix

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.