Calix (NYSE:CALX) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Calix (NYSE:CALX) had its price objective cut by JPMorgan Chase & Co. from $58.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 48.06% from the stock’s previous close.

A number of other analysts have also commented on the stock. Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price objective on the stock in a research report on Tuesday, July 21st. Roth Capital reaffirmed a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 price target on shares of Calix in a research note on Wednesday. Zacks Research raised shares of Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Calix Price Performance

Shares of CALX traded up $0.52 during midday trading on Wednesday, hitting $33.77. The stock had a trading volume of 727,675 shares, compared to its average volume of 1,097,215. The company has a 50 day simple moving average of $35.99 and a two-hundred day simple moving average of $42.46. Calix has a twelve month low of $32.35 and a twelve month high of $68.18. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 49.59 and a beta of 1.21.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Calix had a return on equity of 5.53% and a net margin of 3.99%. The company had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. Analysts forecast that Calix will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new position in Calix during the second quarter worth $31,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Calix by 254.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 630 shares during the last quarter. Covestor Ltd lifted its stake in Calix by 85.4% in the third quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock valued at $49,000 after acquiring an additional 666 shares during the last quarter. OV Management LLC bought a new position in shares of Calix in the 2nd quarter valued at about $62,000. Finally, Sterling Capital Management LLC grew its position in shares of Calix by 827.9% in the 3rd quarter. Sterling Capital Management LLC now owns 1,930 shares of the communications equipment provider’s stock valued at $66,000 after acquiring an additional 1,722 shares during the period. 98.14% of the stock is owned by institutional investors.

Trending Headlines about Calix

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and set a $55 price target, implying substantial upside from the quoted share price. Rosenblatt Securities recommendations
• Positive Sentiment: Calix’s Q4 EPS guidance of $0.41–$0.49 is above the $0.40 consensus estimate. Revenue guidance of $311 million–$317 million is broadly in line with expectations, while full-year revenue guidance also matched consensus. Calix Q3 revenue and guidance
• Neutral Sentiment: Q3 EPS of $0.44 beat the $0.42 estimate, and revenue grew 13.7% year over year. However, revenue of $301.71 million fell short of the $304.23 million consensus, and EPS was unchanged from a year earlier. Calix Q3 earnings beat estimates
• Negative Sentiment: Reports highlight profit and margin pressure following the results, which could offset the EPS beat and optimistic guidance. Calix stock drops after Q3 results
• Negative Sentiment: A separate valuation analysis argues the shares may still be overvalued despite a steep prior decline, potentially limiting investor appetite. Calix valuation analysis

About Calix

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.