JPMorgan Chase & Co. Issues Positive Forecast for Calix (NYSE:CALX) Stock Price

Calix (NYSE:CALX) had its price target raised by JPMorgan Chase & Co. from $38.00 to $45.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the communications equipment provider’s stock.

Several other equities research analysts have also commented on CALX. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Calix Price Performance

Shares of NYSE:CALX opened at $39.77 on Friday. The business’s 50 day moving average price is $35.78 and its 200-day moving average price is $36.30. Calix has a 1 year low of $26.76 and a 1 year high of $41.97. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -88.38 and a beta of 1.68.

Calix (NYSE:CALX) last posted its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.46%. On average, sell-side analysts expect that Calix will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CALX. Principal Financial Group Inc. increased its holdings in Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider’s stock valued at $10,025,000 after purchasing an additional 10,393 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Calix by 1.3% in the fourth quarter. Rhumbline Advisers now owns 168,531 shares of the communications equipment provider’s stock valued at $5,877,000 after buying an additional 2,238 shares in the last quarter. Thompson Investment Management Inc. grew its stake in shares of Calix by 4.6% in the fourth quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider’s stock valued at $3,171,000 after buying an additional 4,000 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of Calix in the 4th quarter valued at $314,000. Finally, Pacer Advisors Inc. lifted its stake in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.