Calix (NYSE:CALX) Stock Rating Upgraded by StockNews.com

Calix (NYSE:CALX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research firms also recently weighed in on CALX. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Craig Hallum lifted their price target on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Roth Mkm lifted their price target on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities lifted their price target on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Stock Performance

Shares of CALX opened at $38.46 on Friday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $47.15. The business has a 50-day moving average of $37.20 and a 200 day moving average of $34.39. The firm has a market cap of $2.52 billion, a P/E ratio of 124.06 and a beta of 1.74.

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

Insider Activity

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

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. Norges Bank purchased a new stake in Calix in the fourth quarter worth $26,483,000. Assetmark Inc. grew its stake in Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 655 shares during the period. TD Asset Management Inc grew its stake in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after purchasing an additional 1,349,625 shares during the period. TFO Wealth Partners LLC boosted its holdings in Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Calix in the fourth quarter worth $1,829,000. 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.