Calix (NYSE:CALX) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a research note published on Wednesday morning.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reissued a buy rating and set a $50.00 target price on shares of Calix in a research report on Tuesday. Roth Mkm reissued a buy rating and set a $50.00 price objective on shares of Calix in a report on Monday. Rosenblatt Securities dropped their target price on Calix from $45.00 to $35.00 and set a buy rating on the stock in a report on Tuesday. Finally, Craig Hallum decreased their price target on Calix from $48.00 to $41.00 and set a buy rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $43.60.

Calix Stock Up 0.8 %

Shares of CALX stock opened at $28.25 on Wednesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. Calix has a 52 week low of $26.76 and a 52 week high of $53.90. The firm has a 50 day moving average of $33.04 and a 200-day moving average of $37.45.

Calix (NYSE:CALX) last issued its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.65% and a net margin of 2.19%. The company had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Calix’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts anticipate that Calix will post 0.45 earnings per share for the current year.

Institutional Trading of Calix

Institutional investors and hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC grew its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the last quarter. Assetmark Inc. grew its position in Calix by 31.9% during the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 382 shares during the period. Quadrant Capital Group LLC increased its holdings in Calix by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Calix in the third quarter worth about $111,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.