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

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $42.50.

Several analysts have issued reports on CALX shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday, October 29th. Craig Hallum boosted their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd.

Calix Stock Performance

CALX opened at $29.03 on Thursday. The firm has a market cap of $1.93 billion, a P/E ratio of -120.96 and a beta of 1.75. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $45.15. The firm has a 50-day moving average of $36.53 and a 200 day moving average of $35.68.

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

Hedge Funds Weigh In On Calix

Several hedge funds have recently bought and sold shares of CALX. Epoch Investment Partners Inc. boosted its holdings in Calix by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after purchasing an additional 219,699 shares during the period. Koshinski Asset Management Inc. bought a new stake in Calix during the first quarter valued at $669,000. Vanguard Group Inc. grew its position in Calix by 14.0% during the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after buying an additional 900,713 shares in the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in Calix by 8.9% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 358,647 shares of the communications equipment provider’s stock worth $12,707,000 after acquiring an additional 29,367 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Calix by 9.2% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider’s stock valued at $28,771,000 after acquiring an additional 68,300 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.