Calix (NYSE:CALX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Calix (NYSE:CALX – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Calix provides the cloud, software platforms, systems and services required for communications service providers to simplify their business, excite their subscribers and grow their value. “

A number of other equities research analysts have also recently issued reports on CALX. Craig Hallum raised shares of Calix from a hold rating to a buy rating and set a $55.00 target price for the company in a research report on Friday, January 28th. Cowen lowered their price objective on Calix from $57.00 to $48.00 in a research note on Wednesday, April 27th. Jefferies Financial Group lowered their price objective on Calix from $74.00 to $69.00 in a research note on Wednesday, April 27th. Rosenblatt Securities initiated coverage on Calix in a research note on Monday, April 11th. They issued a buy rating and a $60.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $73.00 price objective on shares of Calix in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Calix currently has a consensus rating of Buy and an average target price of $62.91.

Shares of CALX stock opened at $41.01 on Tuesday. Calix has a 52-week low of $36.50 and a 52-week high of $80.95. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 6.65 and a beta of 1.56. The firm has a fifty day moving average of $43.28 and a 200-day moving average of $55.30.

Calix (NYSE:CALX – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The communications equipment provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Calix had a net margin of 32.17% and a return on equity of 11.66%. The firm had revenue of $184.95 million during the quarter, compared to analysts’ expectations of $177.64 million. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts forecast that Calix will post 0.3 EPS for the current year.

In other news, Director Donald J. Listwin purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 4th. The shares were bought at an average cost of $50.94 per share, for a total transaction of $509,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.56% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Covestor Ltd purchased a new stake in Calix in the fourth quarter worth about $52,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Calix during the 1st quarter valued at approximately $61,000. Hexagon Capital Partners LLC grew its holdings in Calix by 75.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,150 shares of the communications equipment provider’s stock valued at $92,000 after buying an additional 493 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Calix by 261.2% in the 3rd quarter. Macquarie Group Ltd. now owns 2,149 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 1,554 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Calix in the 4th quarter worth approximately $111,000. Institutional investors own 90.64% 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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