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

Shares of Calix, Inc. (NYSE:CALX) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $42.50.

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price objective 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 Trading of Calix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Calix by 187.9% in the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 436 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Calix during the 3rd quarter worth about $34,000. Arcadia Investment Management Corp MI bought a new stake in shares of Calix in the 3rd quarter valued at about $39,000. Avior Wealth Management LLC increased its stake in shares of Calix by 998.1% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock valued at $46,000 after buying an additional 1,078 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in shares of Calix by 29.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 318 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Performance

CALX opened at $34.06 on Monday. Calix has a 52-week low of $26.76 and a 52-week high of $45.15. The firm has a market cap of $2.26 billion, a P/E ratio of -141.92 and a beta of 1.70. The business’s fifty day moving average is $35.24 and its 200-day moving average is $35.86.

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

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.