Barrington Research Increases Calix (NYSE:CALX) Price Target to $67.00

Calix (NYSE:CALXGet Rating) had its target price hoisted by Barrington Research from $63.00 to $67.00 in a research report report published on Tuesday morning, The Fly reports.

A number of other research analysts have also commented on the company. Rosenblatt Securities started coverage on Calix in a report on Monday, April 11th. They set a buy rating and a $60.00 price target for the company. Jefferies Financial Group reiterated a buy rating and set a $61.00 price target (down from $69.00) on shares of Calix in a report on Wednesday, June 22nd. Northland Securities upped their price target on Calix from $45.00 to $50.00 in a report on Wednesday, April 27th. Cowen lowered their price objective on Calix from $57.00 to $48.00 in a research report on Wednesday, April 27th. Finally, StockNews.com initiated coverage on Calix in a research report on Thursday, March 31st. They set a hold rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $60.90.

Calix Stock Performance

CALX opened at $50.38 on Tuesday. The business has a 50 day moving average price of $37.46 and a 200 day moving average price of $42.58. Calix has a twelve month low of $31.59 and a twelve month high of $80.95. The firm has a market cap of $3.26 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 9.43 and a beta of 1.55.

Calix (NYSE:CALXGet Rating) last issued its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Calix had a return on equity of 11.66% and a net margin of 32.17%. The company had revenue of $202.04 million during the quarter, compared to analyst estimates of $196.02 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, analysts anticipate that Calix will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In other Calix news, Director Donald J. Listwin sold 33,750 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $39.97, for a total value of $1,348,987.50. Following the sale, the director now directly owns 751,250 shares in the company, valued at $30,027,462.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Calix news, Director Kevin A. Denuccio sold 12,477 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $40.00, for a total value of $499,080.00. Following the sale, the director now directly owns 80,000 shares in the company, valued at $3,200,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald J. Listwin sold 33,750 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $39.97, for a total value of $1,348,987.50. Following the completion of the transaction, the director now directly owns 751,250 shares in the company, valued at approximately $30,027,462.50. The disclosure for this sale can be found here. Company insiders own 16.56% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Calix by 45.9% in the first quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock worth $319,511,000 after purchasing an additional 2,340,968 shares in the last quarter. Vanguard Group Inc. boosted its stake in Calix by 35.2% in the first quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider’s stock worth $239,713,000 after purchasing an additional 1,453,368 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Calix by 22.7% in the first quarter. Bank of New York Mellon Corp now owns 1,963,582 shares of the communications equipment provider’s stock worth $84,259,000 after purchasing an additional 363,741 shares in the last quarter. State Street Corp boosted its stake in Calix by 58.5% in the first quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider’s stock worth $74,347,000 after purchasing an additional 639,780 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Calix by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,711,123 shares of the communications equipment provider’s stock worth $73,422,000 after purchasing an additional 12,667 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Calix Company Profile

(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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