Rosenblatt Securities Reaffirms Buy Rating for Calix (NYSE:CALX)

Rosenblatt Securities reissued their buy rating on shares of Calix (NYSE:CALX) in a research note published on Thursday, Benzinga reports. Rosenblatt Securities currently has a $45.00 price objective on the communications equipment provider’s stock.

A number of other equities analysts also recently issued reports on CALX. StockNews.com upgraded Calix from a sell rating to a hold rating in a research report on Friday, September 27th. JPMorgan Chase & Co. raised their price target on shares of Calix from $28.00 to $41.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Craig Hallum boosted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Roth Mkm increased their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a buy rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Calix has a consensus rating of Moderate Buy and an average target price of $42.50.

Calix Stock Performance

Shares of NYSE CALX opened at $37.73 on Thursday. The firm has a 50 day moving average price of $37.43 and a two-hundred day moving average price of $34.52. The stock has a market cap of $2.47 billion, a P/E ratio of 121.71 and a beta of 1.74. Calix has a 52-week low of $26.76 and a 52-week high of $46.29.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million for 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%. Calix’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.69% of the company’s stock.

Institutional Trading of Calix

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in Calix by 30.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,300 shares of the communications equipment provider’s stock worth $749,000 after buying an additional 4,500 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of Calix during the second quarter worth approximately $60,000. Creative Planning bought a new position in shares of Calix in the 2nd quarter worth $513,000. Susquehanna Fundamental Investments LLC acquired a new stake in Calix in the 2nd quarter valued at $430,000. Finally, Mackenzie Financial Corp bought a new stake in Calix during the 2nd quarter valued at $248,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.