Calix, Inc. (NYSE:CALX) Receives $42.50 Average Target Price from Analysts

Calix, Inc. (NYSE:CALX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $42.50.

A number of research analysts have recently weighed in on CALX shares. JPMorgan Chase & Co. lifted their price objective on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Rosenblatt Securities restated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. Craig Hallum lifted their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Roth Mkm increased their target price on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Tuesday, October 29th.

Institutional Trading of Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Calix by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock valued at $51,661,000 after purchasing an additional 14,725 shares during the last quarter. Barclays PLC grew its holdings in Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after acquiring an additional 73,588 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Calix in the 3rd quarter worth approximately $776,000. National Bank of Canada FI grew its stake in shares of Calix by 0.4% during the 3rd quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock worth $5,515,000 after purchasing an additional 520 shares during the period. Finally, Castleark Management LLC purchased a new position in shares of Calix during the 3rd quarter valued at approximately $2,399,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Down 2.7 %

CALX stock opened at $29.31 on Thursday. The business has a 50 day moving average of $36.64 and a 200 day moving average of $35.62. The firm has a market cap of $1.94 billion, a PE ratio of -122.13 and a beta of 1.75. Calix has a twelve month low of $26.76 and a twelve month high of $45.15.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The firm had revenue of $200.95 million during the quarter, compared to analyst estimates of $201.06 million. During the same period in the previous year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was down 23.8% on a year-over-year basis. On average, research analysts expect that Calix will post -0.34 earnings per share for the current fiscal 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.