Cowen Cuts Calix (NYSE:CALX) Price Target to $48.00

Calix (NYSE:CALXGet Rating) had its price objective decreased by analysts at Cowen from $57.00 to $48.00 in a research report issued on Wednesday, The Fly reports. Cowen’s price objective points to a potential upside of 26.02% from the stock’s current price.

CALX has been the topic of several other reports. TheStreet cut shares of Calix from a “b” rating to a “c” rating in a research 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 target on the stock 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 price target on the stock. Zacks Investment Research upgraded shares of Calix from a “sell” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, February 2nd. Finally, StockNews.com began coverage on shares of Calix in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $63.90.

CALX opened at $38.09 on Wednesday. The stock has a market capitalization of $2.46 billion, a P/E ratio of 10.85, a P/E/G ratio of 3.77 and a beta of 1.60. Calix has a 12 month low of $36.50 and a 12 month high of $80.95. The firm’s fifty day simple moving average is $44.50 and its 200 day simple moving average is $55.88.

Calix (NYSE:CALXGet Rating) last posted its quarterly earnings data on Monday, April 25th. The communications equipment provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $184.95 million for the quarter, compared to analysts’ expectations of $177.64 million. Calix had a net margin of 35.09% and a return on equity of 16.41%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts predict that Calix will post 0.51 EPS for the current fiscal year.

In related news, Director Donald J. Listwin acquired 10,000 shares of the stock in a transaction that occurred on Friday, February 4th. The stock was acquired at an average cost of $50.94 per share, for a total transaction of $509,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 16.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its position in Calix by 0.3% in the 4th quarter. Allianz Asset Management GmbH now owns 62,642 shares of the communications equipment provider’s stock valued at $5,009,000 after acquiring an additional 202 shares during the period. Keebeck Alpha LP boosted its stake in shares of Calix by 3.0% in the 3rd quarter. Keebeck Alpha LP now owns 7,090 shares of the communications equipment provider’s stock valued at $350,000 after purchasing an additional 209 shares during the last quarter. Exane Derivatives boosted its stake in shares of Calix by 12.9% in the 4th quarter. Exane Derivatives now owns 2,449 shares of the communications equipment provider’s stock valued at $196,000 after purchasing an additional 280 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Calix by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 43,235 shares of the communications equipment provider’s stock valued at $2,138,000 after purchasing an additional 344 shares during the last quarter. Finally, AXA S.A. boosted its stake in shares of Calix by 3.2% in the 3rd quarter. AXA S.A. now owns 12,800 shares of the communications equipment provider’s stock valued at $633,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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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