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

Shares of Calix, Inc. (NYSE:CALX) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $47.83.

A number of research firms have recently commented on CALX. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price on shares of Calix in a research note on Tuesday, April 22nd. Rosenblatt Securities boosted their target price on shares of Calix from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. UBS Group reissued a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 target price on shares of Calix and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 358 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Calix by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock worth $217,000 after acquiring an additional 465 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Calix by 7.1% in the 4th quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock worth $248,000 after acquiring an additional 469 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Calix by 91.1% in the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 480 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its holdings in shares of Calix by 8.0% in the 1st quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 621 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Stock Performance

Shares of Calix stock opened at $46.33 on Monday. The firm has a 50-day simple moving average of $39.46 and a two-hundred day simple moving average of $37.22. The company has a market cap of $3.00 billion, a P/E ratio of -102.95 and a beta of 1.38. Calix has a fifty-two week low of $28.61 and a fifty-two week high of $47.73.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter in the previous year, the company earned $0.21 earnings per share. Equities research analysts forecast that Calix will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.