Calix, Inc. (NYSE:CALX) Receives $43.17 Average Price Target from Brokerages

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $43.17.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. raised its stake in shares of Calix by 8.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 607,500 shares of the communications equipment provider’s stock worth $21,184,000 after buying an additional 47,200 shares during the period. Mackenzie Financial Corp raised its stake in shares of Calix by 159.3% in the fourth quarter. Mackenzie Financial Corp now owns 23,710 shares of the communications equipment provider’s stock worth $827,000 after buying an additional 14,567 shares during the period. North Star Asset Management Inc. raised its stake in shares of Calix by 3.0% in the fourth quarter. North Star Asset Management Inc. now owns 92,390 shares of the communications equipment provider’s stock worth $3,222,000 after buying an additional 2,727 shares during the period. Neo Ivy Capital Management bought a new position in shares of Calix in the fourth quarter worth about $300,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Calix by 23.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,423 shares of the communications equipment provider’s stock worth $5,559,000 after buying an additional 29,815 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Price Performance

Shares of NYSE:CALX opened at $36.97 on Friday. Calix has a 1-year low of $26.76 and a 1-year high of $42.50. The business has a fifty day moving average price of $38.06 and a 200-day moving average price of $36.65. The company has a market capitalization of $2.45 billion, a PE ratio of -82.15 and a beta of 1.70.

Calix (NYSE:CALX) last issued its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share 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 3.43%. On average, sell-side analysts anticipate that Calix will post -0.43 earnings per share for the current fiscal year.

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.