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

by · The Markets Daily

Calix, Inc. (NYSE:CALX – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two 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 objective among brokers that have updated their coverage on the stock in the last year is $42.50.

A number of research firms have weighed in on CALX. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target 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 restated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd.

Check Out Our Latest Stock Report on Calix

Calix Stock Performance

Shares of CALX opened at $38.28 on Friday. The company has a 50-day simple moving average of $34.07 and a 200-day simple moving average of $35.94. Calix has a 52 week low of $26.76 and a 52 week high of $45.15. The firm has a market capitalization of $2.54 billion, a P/E ratio of -159.50 and a beta of 1.68.

Calix (NYSE:CALX – Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $201.06 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 23.8% on a year-over-year basis. As a group, equities analysts forecast that Calix will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Calix by 5.7% in the third 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 acquiring an additional 6,984 shares during the last quarter. HighTower Advisors LLC acquired a new position in Calix in the third quarter worth $3,513,000. Kornitzer Capital Management Inc. KS grew its holdings in shares of Calix by 9.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider’s stock worth $28,771,000 after purchasing an additional 68,300 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of 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 buying an additional 28,685 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 valued at $51,661,000 after buying an additional 14,725 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

About Calix

(Get Free Report

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.

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