Brokerages Set Calix, Inc. (NYSE:CALX) Target Price at $67.00

Calix, Inc. (NYSE:CALXGet Rating) has earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $66.22.

CALX has been the topic of several analyst reports. Loop Capital initiated coverage on Calix in a research report on Wednesday, February 23rd. They issued a “buy” rating and a $70.00 target price on the stock. Zacks Investment Research raised Calix from a “sell” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, February 2nd. TheStreet lowered Calix from a “b” rating to a “c” rating in a report on Thursday, January 27th. StockNews.com began coverage on Calix in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $73.00 price target on shares of Calix in a report on Thursday, February 24th.

Shares of NYSE:CALX opened at $37.66 on Friday. Calix has a 1 year low of $36.50 and a 1 year high of $80.95. The stock has a market capitalization of $2.43 billion, a P/E ratio of 10.73, a PEG ratio of 3.80 and a beta of 1.60. The stock has a 50-day simple moving average of $47.64 and a 200-day simple moving average of $56.92.

Calix (NYSE:CALXGet Rating) last released its earnings results on Wednesday, January 26th. The communications equipment provider reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The company had revenue of $176.42 million during the quarter, compared to analysts’ expectations of $173.92 million. Calix had a return on equity of 16.41% and a net margin of 35.09%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Research analysts expect that Calix will post 0.51 EPS for the current year.

In other news, EVP Shane Todd Marshall Eleniak sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 18th. The stock was sold at an average price of $52.77, for a total transaction of $1,319,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald J. Listwin purchased 10,000 shares of the business’s stock in a transaction dated Friday, February 4th. The shares were purchased at an average cost of $50.94 per share, with a total value of $509,400.00. The disclosure for this purchase can be found here. Company insiders own 16.56% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Calix by 30.5% in the 2nd quarter. Royal Bank of Canada now owns 3,746 shares of the communications equipment provider’s stock valued at $178,000 after buying an additional 876 shares during the last quarter. Morgan Stanley raised its position in Calix by 553.0% in the 2nd quarter. Morgan Stanley now owns 140,859 shares of the communications equipment provider’s stock valued at $6,692,000 after purchasing an additional 119,289 shares during the last quarter. Analog Century Management LP raised its position in Calix by 28.4% in the 3rd quarter. Analog Century Management LP now owns 358,631 shares of the communications equipment provider’s stock valued at $17,727,000 after purchasing an additional 79,300 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Calix by 0.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 61,300 shares of the communications equipment provider’s stock valued at $3,030,000 after purchasing an additional 256 shares during the last quarter. Finally, Navellier & Associates Inc. raised its position in Calix by 8.1% in the 3rd quarter. Navellier & Associates Inc. now owns 50,625 shares of the communications equipment provider’s stock valued at $2,502,000 after purchasing an additional 3,789 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

About Calix (Get Rating)

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

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Analyst Recommendations for Calix (NYSE:CALX)

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