Calix (NYSE:CALX) Rating Lowered to Buy at Wall Street Zen

Calix (NYSE:CALX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

Several other research firms have also issued reports on CALX. Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Rosenblatt Securities restated a “buy” rating and issued a $55.00 target price on shares of Calix in a research note on Wednesday, November 4th. JPMorgan Chase & Co. decreased their target price on Calix from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Weiss Ratings cut Calix from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, October 26th. Finally, Roth Capital reiterated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Calix currently has an average rating of “Moderate Buy” and an average target price of $55.80.

Calix Trading Up 5.3%

Shares of NYSE:CALX opened at $32.23 on Friday. The company has a 50 day moving average of $35.49 and a 200 day moving average of $41.95. The stock has a market cap of $1.99 billion, a P/E ratio of 47.40 and a beta of 1.21. Calix has a 12 month low of $30.55 and a 12 month high of $65.00.

Calix (NYSE:CALX) last posted its earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Calix had a net margin of 3.99% and a return on equity of 5.67%. The business had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. During the same quarter in the prior year, the firm posted $0.44 EPS. Calix’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts forecast that Calix will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Calix

In other news, Director Carl Russo sold 75,000 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $31.07, for a total transaction of $2,330,250.00. Following the sale, the director owned 1,494,188 shares in the company, valued at approximately $46,424,421.16. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its stake in shares of Calix by 1.8% in the third quarter. Inspire Investing LLC now owns 18,681 shares of the communications equipment provider’s stock worth $642,000 after purchasing an additional 338 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Calix by 254.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 630 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Calix by 3.5% during the first quarter. Hsbc Holdings PLC now owns 19,140 shares of the communications equipment provider’s stock valued at $940,000 after buying an additional 647 shares during the last quarter. Covestor Ltd increased its holdings in Calix by 85.4% in the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 666 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in Calix in the 2nd quarter worth about $31,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

More Calix News

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Brokerages’ reported consensus target price of $55.80 is well above CALX’s recent trading level, suggesting potential upside in analysts’ valuation outlook. The figure may not reflect a new estimate. Calix consensus target price
• Neutral Sentiment: Calix announced upcoming investor events, including conferences and a company-hosted bus tour where executives will meet with investors. These provide opportunities for updates but no new financial guidance was included in the announcement. Calix Announces Upcoming Investor Events
• Neutral Sentiment: The A$10 million investment agreement for a green iron project relates to Calix Ltd. (Australia: CXL), not Calix, Inc. (NYSE: CALX), so it should not be treated as news about this stock. Calix Ltd. green iron project announcement
• Negative Sentiment: Director Carl Russo sold 75,000 shares for about $2.33 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained nearly 1.5 million shares, which may temper concerns but does not eliminate the potential negative sentiment from insider selling. Calix insider share sale
• Negative Sentiment: Wall Street Zen cut its rating on CALX to “Buy,” a downgrade from its prior rating, although the recommendation remains positive. Calix rating cut to Buy

Calix Company Profile

Calix, Inc provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers.

The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.

Founded in 1999 and headquartered in San Jose, California, Calix serves communications service providers in multiple markets, including providers in North America.