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

Shares of Calix, Inc. (NYSE:CALX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $42.50.

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

Calix Stock Performance

Shares of Calix stock opened at $36.31 on Friday. The company has a 50-day simple moving average of $33.97 and a two-hundred day simple moving average of $35.90. The stock has a market capitalization of $2.41 billion, a PE ratio of -151.29 and a beta of 1.68. Calix has a 52-week low of $26.76 and a 52-week high of $45.15.

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

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently made changes to their positions in CALX. Diversified Trust Co raised its position in shares of 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 buying an additional 1,845 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 during the period. Geode Capital Management LLC raised its position 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 purchasing an additional 14,725 shares during the period. Barclays PLC lifted its stake in shares of Calix by 184.0% in the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock valued at $4,404,000 after purchasing an additional 73,588 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Calix in the 3rd quarter worth approximately $776,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Company Profile

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.