Calix (NYSE:CALX) Coverage Initiated by Analysts at Rosenblatt Securities

Research analysts at Rosenblatt Securities assumed coverage on shares of Calix (NYSE:CALXGet Rating) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $60.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 53.77% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CALX. Zacks Investment Research raised Calix from a “sell” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, February 2nd. TheStreet cut shares of Calix from a “b” rating to a “c” rating in a report on Thursday, January 27th. Northland Securities upgraded shares of Calix from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Thursday, April 7th. Loop Capital initiated coverage on shares of Calix in a research note on Wednesday, February 23rd. They issued a “buy” rating and a $70.00 target price for the company. Finally, StockNews.com began coverage on Calix in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $66.22.

Shares of Calix stock opened at $39.02 on Monday. The stock’s fifty day moving average is $47.42 and its two-hundred day moving average is $56.80. The company has a market capitalization of $2.52 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 3.80 and a beta of 1.60. Calix has a 52 week low of $36.50 and a 52 week high of $80.95.

Calix (NYSE:CALXGet Rating) last posted its quarterly earnings results on Wednesday, January 26th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Calix had a return on equity of 16.41% and a net margin of 35.09%. The business had revenue of $176.42 million for the quarter, compared to the consensus estimate of $173.92 million. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Calix will post 0.51 EPS for the current year.

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

Large investors have recently bought and sold shares of the business. Covestor Ltd purchased a new stake in Calix in the fourth quarter valued at $52,000. Hexagon Capital Partners LLC raised its position in shares of Calix by 75.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,150 shares of the communications equipment provider’s stock worth $92,000 after acquiring an additional 493 shares during the period. Macquarie Group Ltd. raised its position in shares of Calix by 261.2% in the third quarter. Macquarie Group Ltd. now owns 2,149 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 1,554 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Calix in the fourth quarter worth about $111,000. Finally, Maverick Capital Ltd. raised its position in shares of Calix by 140.3% during the 3rd quarter. Maverick Capital Ltd. now owns 2,948 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 1,721 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

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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