Jefferies Financial Group Lowers Calix (NYSE:CALX) Price Target to $69.00

Calix (NYSE:CALXGet Rating) had its target price dropped by analysts at Jefferies Financial Group from $74.00 to $69.00 in a report released on Wednesday, The Fly reports. Jefferies Financial Group’s price objective points to a potential upside of 81.15% from the company’s current price.

A number of other equities research analysts also recently issued reports on CALX. Zacks Investment Research raised Calix from a “sell” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Wednesday, February 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $73.00 target price on shares of Calix in a research report on Thursday, February 24th. 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 for the company. Rosenblatt Securities initiated coverage on Calix in a research report on Monday, April 11th. They issued a “buy” rating and a $60.00 target price for the company. Finally, StockNews.com initiated coverage on Calix in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $63.90.

CALX stock opened at $38.09 on Wednesday. The stock has a 50-day moving average price of $44.50 and a two-hundred day moving average price of $55.88. Calix has a 12-month low of $36.50 and a 12-month high of $80.95. The company has a market cap of $2.46 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 3.77 and a beta of 1.60.

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

In related news, Director Donald J. Listwin purchased 10,000 shares of the company’s stock in a transaction dated Friday, February 4th. The shares were acquired at an average cost of $50.94 per share, for a total transaction of $509,400.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 16.64% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in Calix by 30.5% during the 2nd quarter. Royal Bank of Canada now owns 3,746 shares of the communications equipment provider’s stock valued at $178,000 after purchasing an additional 876 shares in the last quarter. Morgan Stanley boosted its stake in Calix by 553.0% during 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 in the last quarter. Commonwealth Equity Services LLC boosted its stake in Calix by 17.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,783 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 1,030 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Calix during the 3rd quarter worth $1,092,000. Finally, Raymond James & Associates bought a new stake in shares of Calix during the 3rd quarter worth $206,000. 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.

See Also

The Fly logo

Analyst Recommendations for Calix (NYSE:CALX)

Receive News & Ratings for Calix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calix and related companies with MarketBeat.com's FREE daily email newsletter.