Calix (NYSE:CALX) Downgraded by Jefferies Financial Group to Hold

Calix (NYSE:CALX) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat reports. They presently have a $30.00 price objective on the communications equipment provider’s stock, down from their prior price objective of $48.00. Jefferies Financial Group’s price target would indicate a potential upside of 5.60% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Rosenblatt Securities dropped their target price on Calix from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com lowered shares of Calix from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Calix in a research note on Tuesday. Craig Hallum decreased their target price on shares of Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.33.

Calix Stock Performance

Calix stock opened at $28.41 on Thursday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90. The stock has a market cap of $1.86 billion, a P/E ratio of 91.65 and a beta of 1.65. The firm’s fifty day moving average price is $32.79 and its 200-day moving average price is $37.27.

Calix (NYSE:CALX) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The business had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, analysts predict that Calix will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Calix

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

Calix Company Profile

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.