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

Shares of Calix, Inc. (NYSE:CALX) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $42.50.

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Thursday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd.

Calix Price Performance

NYSE CALX opened at $40.29 on Tuesday. The business has a 50 day moving average price of $35.65 and a 200 day moving average price of $36.27. The company has a market capitalization of $2.67 billion, a P/E ratio of -167.88 and a beta of 1.68. Calix has a 1-year low of $26.76 and a 1-year high of $41.97.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. On average, research analysts expect that Calix will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Calix by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider’s stock valued at $5,027,000 after purchasing an additional 6,984 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Calix in the 3rd quarter worth $3,513,000. Geode Capital Management LLC raised 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 buying an additional 14,725 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Calix by 28.5% in the second quarter. Envestnet Asset Management Inc. now owns 129,359 shares of the communications equipment provider’s stock valued at $4,583,000 after acquiring an additional 28,685 shares during the last quarter. Finally, Barclays PLC grew its position in Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock valued at $4,404,000 after acquiring an additional 73,588 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.