Calix, Inc. (NYSE:CALX) Receives $42.50 Average PT from Analysts

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.50.

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

Hedge Funds Weigh In On Calix

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

Calix Stock Up 5.4 %

NYSE:CALX opened at $35.74 on Friday. The firm has a market capitalization of $2.37 billion, a PE ratio of -148.92 and a beta of 1.70. Calix has a 12-month low of $26.76 and a 12-month high of $45.15. The firm has a 50-day moving average price of $34.05 and a 200 day moving average price of $35.88.

Calix (NYSE:CALX) last issued its earnings results 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 business 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%. Calix’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, research analysts expect that Calix will post -0.34 EPS for the current 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.