Calix, Inc. (NYSE:CALX) Receives $42.50 Consensus Target Price from Analysts

Shares of Calix, Inc. (NYSE:CALX) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.50.

A number of brokerages have commented on CALX. Craig Hallum increased their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Roth Mkm increased their target price on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On Calix

A number of large investors have recently made changes to their positions in CALX. Geode Capital Management LLC lifted its stake in Calix by 1.1% in the third 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 raised its holdings in Calix by 184.0% in 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 purchased a new stake in shares of Calix in the 3rd quarter worth about $776,000. National Bank of Canada FI boosted its stake in shares of Calix by 0.4% during the 3rd 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. Finally, Castleark Management LLC purchased a new position in shares of Calix during the third quarter valued at about $2,399,000. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Performance

Calix stock opened at $29.03 on Thursday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $45.15. The firm’s fifty day moving average price is $36.53 and its 200-day moving average price is $35.68. The stock has a market cap of $1.93 billion, a P/E ratio of -120.96 and a beta of 1.75.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $200.95 million during the quarter, compared to analysts’ expectations of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The company’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. On average, analysts predict that Calix will post -0.34 earnings per share for the current year.

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.