Calix (NYSE:CALX) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a research report released on Friday morning.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Needham & Company LLC reissued a buy rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Rosenblatt Securities increased their price objective on shares of Calix from $35.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Roth Mkm boosted their target price on shares of Calix from $43.00 to $44.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Finally, Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $42.50.

Calix Price Performance

NYSE:CALX opened at $38.46 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 124.06 and a beta of 1.74. The firm’s fifty day moving average price is $37.20 and its two-hundred day moving average price is $34.39. Calix has a one year low of $26.76 and a one year high of $47.15.

Calix (NYSE:CALX) last posted its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, equities research analysts expect that Calix will post -0.36 earnings per share for the current year.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ariadne Wealth Management LP bought a new position in shares of Calix during the 2nd quarter valued at about $60,000. Creative Planning purchased a new position in shares of Calix during the second quarter valued at about $513,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Calix during the second quarter valued at about $430,000. Mackenzie Financial Corp purchased a new position in shares of Calix in the 2nd quarter valued at approximately $248,000. Finally, The Manufacturers Life Insurance Company grew its stake in Calix by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock worth $1,168,000 after purchasing an additional 857 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.