StockNews.com Lowers Calix (NYSE:CALX) to Sell

StockNews.com lowered shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a buy rating and set a $50.00 target price on shares of Calix in a research note on Tuesday. Roth Mkm reissued a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Craig Hallum dropped their price objective on Calix from $48.00 to $41.00 and set a buy rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities cut their target price on Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Calix has an average rating of Hold and a consensus price target of $41.33.

Calix Stock Performance

Calix stock opened at $28.41 on Wednesday. The firm has a market capitalization of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65. Calix has a one year low of $26.76 and a one year high of $53.90. The stock’s 50 day moving average price is $32.79 and its 200 day moving average price is $37.27.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.64%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Calix by 4.9% in the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock worth $291,765,000 after purchasing an additional 298,277 shares during the period. Wellington Management Group LLP raised its stake in Calix by 24.6% during the third quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock worth $72,831,000 after acquiring an additional 313,380 shares during the period. Artemis Investment Management LLP bought a new position in Calix in the fourth quarter worth about $18,165,000. Ameriprise Financial Inc. boosted its stake in Calix by 15.3% in the third quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Calix by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after purchasing an additional 20,015 shares during the last quarter. 98.14% of the stock is currently owned by 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.