Calix, Inc. (NYSE:CALX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Calix, Inc. (NYSE:CALX) have been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $43.17.

Several equities analysts have recently issued reports on CALX shares. JPMorgan Chase & Co. boosted their price target on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th.

Calix Price Performance

Calix stock opened at $34.37 on Wednesday. The company has a market cap of $2.29 billion, a PE ratio of -76.38 and a beta of 1.78. The company has a fifty day moving average price of $37.54 and a two-hundred day moving average price of $36.29. Calix has a 12 month low of $26.76 and a 12 month high of $42.50.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. Equities research analysts anticipate that Calix will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the sale, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently bought and sold shares of CALX. Smartleaf Asset Management LLC raised its position in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 640 shares in the last quarter. Avior Wealth Management LLC raised its position in Calix by 998.1% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 1,078 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after buying an additional 358 shares during the period. Truvestments Capital LLC acquired a new stake in Calix during the 3rd quarter worth about $76,000. Finally, Quantbot Technologies LP acquired a new stake in Calix during the 4th quarter worth about $84,000. 98.14% of the stock is currently owned by institutional investors.

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.