Calix, Inc. (NYSE:CALX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Calix, Inc. (NYSE:CALX) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $69.88.

A number of analysts have issued reports on CALX shares. JPMorgan Chase & Co. cut their target price on Calix from $51.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. StockNews.com initiated coverage on Calix in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 price objective on shares of Calix in a research report on Tuesday, October 24th. Roth Mkm cut their price objective on Calix from $66.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th. Finally, Rosenblatt Securities cut their price objective on Calix from $70.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th.

Insider Activity at Calix

In other Calix news, insider John Matthew Collins sold 60,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $33.14, for a total value of $1,988,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Calix

Several large investors have recently bought and sold shares of the stock. Mesirow Institutional Investment Management Inc. boosted its stake in Calix by 35.5% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 348,572 shares of the communications equipment provider’s stock valued at $15,979,000 after acquiring an additional 91,342 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Calix by 46.7% in the third quarter. Congress Asset Management Co. MA now owns 799,141 shares of the communications equipment provider’s stock valued at $36,633,000 after acquiring an additional 254,390 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Calix by 4.0% in the third quarter. Teacher Retirement System of Texas now owns 18,709 shares of the communications equipment provider’s stock valued at $858,000 after acquiring an additional 712 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Calix by 0.3% during the third quarter. Panagora Asset Management Inc. now owns 103,223 shares of the communications equipment provider’s stock worth $4,732,000 after buying an additional 339 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of Calix by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 790,453 shares of the communications equipment provider’s stock worth $36,234,000 after buying an additional 133,630 shares during the period. Institutional investors and hedge funds own 81.35% of the company’s stock.

Calix Stock Up 6.0 %

Shares of NYSE CALX opened at $35.59 on Friday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 52.34 and a beta of 1.56. Calix has a 52-week low of $31.95 and a 52-week high of $77.44. The business’s 50 day moving average is $43.15 and its two-hundred day moving average is $45.20.

Calix (NYSE:CALX) last announced its earnings results on Tuesday, October 24th. The communications equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $263.80 million for the quarter, compared to analyst estimates of $263.23 million. Calix had a return on equity of 7.08% and a net margin of 4.69%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. Analysts anticipate that Calix will post 0.69 EPS for the current fiscal year.

About Calix

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.