Rosenblatt Securities Issues Positive Forecast for Calix (NYSE:CALX) Stock Price

Calix (NYSE:CALX) had its price objective upped by Rosenblatt Securities from $52.00 to $56.00 in a report released on Thursday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider’s stock.

Several other equities research analysts also recently weighed in on CALX. JPMorgan Chase & Co. raised their price objective on Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 target price on Calix and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Calix Trading Up 0.6%

Shares of NYSE CALX opened at $48.16 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -107.02 and a beta of 1.35. Calix has a 12 month low of $28.61 and a 12 month high of $48.88. The stock has a 50-day moving average price of $41.87 and a two-hundred day moving average price of $38.14.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $220.20 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.21 EPS. On average, sell-side analysts predict that Calix will post -0.43 earnings per share for the current year.

Calix declared that its board has initiated a stock repurchase program on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction on 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 owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CALX. Smartleaf Asset Management LLC boosted its position in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 640 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Calix during the 1st quarter worth approximately $28,000. Signaturefd LLC increased its stake 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 valued at $36,000 after acquiring an additional 480 shares in the last quarter. Quarry LP increased its stake in shares of Calix by 1,704.0% in the 1st quarter. Quarry LP now owns 1,353 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Calix during the 4th quarter valued at $84,000. 98.14% of the stock is owned by 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.