Brokerages Set Calix, Inc. (NYSE:CALX) PT at $42.50

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.50.

A number of research analysts recently weighed in on CALX shares. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Tuesday, October 29th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th.

Calix Stock Performance

Shares of CALX opened at $35.74 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of -148.92 and a beta of 1.70. The firm’s 50 day moving average price is $34.05 and its 200 day moving average price is $35.88. Calix has a twelve month low of $26.76 and a twelve month high of $45.15.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. Calix’s revenue for the quarter was down 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. On average, sell-side analysts anticipate that Calix will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calix

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Calix by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider’s stock valued at $4,948,000 after acquiring an additional 40,306 shares during the period. Geode Capital Management LLC lifted its position in shares of Calix by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock worth $51,661,000 after acquiring an additional 14,725 shares during the period. Barclays PLC grew its holdings in shares of Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after purchasing an additional 73,588 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Calix during the third quarter valued at approximately $776,000. Finally, National Bank of Canada FI raised its stake in shares of Calix by 0.4% in the third quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock valued at $5,515,000 after purchasing an additional 520 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.