Analysts Set Calix, Inc. (NYSE:CALX) Price Target at $42.50

Calix, Inc. (NYSE:CALX) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $42.50.

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

Calix Trading Down 0.9 %

CALX stock opened at $36.31 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of -151.29 and a beta of 1.68. Calix has a 12 month low of $26.76 and a 12 month high of $45.15. The company has a 50-day moving average price of $33.97 and a 200 day moving average price of $35.90.

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

Institutional Trading of Calix

A number of hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co increased its position in Calix by 18.1% during the 4th quarter. Diversified Trust Co now owns 12,030 shares of the communications equipment provider’s stock valued at $419,000 after purchasing an additional 1,845 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 40,306 shares in the last quarter. Geode Capital Management LLC increased its holdings in Calix by 1.1% during the third 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 period. Barclays PLC raised its stake in Calix by 184.0% in the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after buying an additional 73,588 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Calix during the third quarter worth $776,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.