Calix (NYSE:CALX) Price Target Raised to $45.00

Calix (NYSE:CALX) had its price target upped by Rosenblatt Securities from $35.00 to $45.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

CALX has been the subject of a number of other reports. StockNews.com downgraded shares of Calix from a hold rating to a sell rating in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their target price on shares of Calix from $28.00 to $41.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Needham & Company LLC reiterated a buy rating and issued a $45.00 target price on shares of Calix in a report on Tuesday. Craig Hallum reduced their target price on shares of Calix from $48.00 to $41.00 and set a buy rating for the company in a report on Wednesday, April 24th. Finally, Jefferies Financial Group lowered shares of Calix from a buy rating to a hold rating and decreased their price objective for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $42.50.

Calix Price Performance

NYSE:CALX opened at $36.68 on Wednesday. Calix has a 1-year low of $26.76 and a 1-year high of $48.53. The company has a 50-day moving average of $34.88 and a 200 day moving average of $34.46. The firm has a market cap of $2.41 billion, a PE ratio of 118.32 and a beta of 1.76.

Calix (NYSE:CALX) last announced its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Sell-side analysts anticipate that Calix will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its position in shares of Calix by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 300 shares during the last quarter. Portside Wealth Group LLC raised its position in Calix by 4.4% during the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after buying an additional 301 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after buying an additional 303 shares during the last quarter. Quadrant Capital Group LLC raised its position in Calix by 18.5% during the 4th 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, Alliance Wealth Advisors LLC UT raised its position in Calix by 4.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,780 shares of the communications equipment provider’s stock worth $384,000 after buying an additional 375 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other 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.