Calix (NYSE:CALX) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a report issued on Wednesday.

CALX has been the topic of a number of other research reports. Rosenblatt Securities lifted their price objective on shares of Calix from $35.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Craig Hallum lifted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Roth Mkm increased their price objective on Calix from $43.00 to $44.00 and gave the company a buy rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Calix from $28.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Calix currently has an average rating of Hold and a consensus price target of $42.50.

Calix Stock Up 1.2 %

CALX opened at $39.10 on Wednesday. The business has a fifty day moving average of $36.96 and a 200 day moving average of $34.30. Calix has a 52-week low of $26.76 and a 52-week high of $47.15. The stock has a market cap of $2.56 billion, a P/E ratio of 126.13 and a beta of 1.74.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. Equities analysts anticipate that Calix will post -0.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently modified their holdings of CALX. TD Asset Management Inc increased its stake in shares of Calix by 516.6% in the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Quantbot Technologies LP acquired a new position in Calix in the 1st quarter valued at about $1,145,000. Epoch Investment Partners Inc. grew its stake in shares of Calix by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after buying an additional 219,699 shares during the period. Congress Asset Management Co. MA increased its holdings in shares of Calix by 9.6% during the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after buying an additional 76,546 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Calix during the 1st quarter valued at approximately $724,000. 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.