Calix (NYSE:CALX) Price Target Cut to $35.00

Calix (NYSE:CALX) had its price target reduced by equities researchers at Rosenblatt Securities from $45.00 to $35.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 23.89% from the stock’s current price.

A number of other brokerages also recently commented on CALX. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Calix in a research note on Wednesday, April 17th. Roth Mkm reiterated a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Monday. Finally, StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Calix Stock Up 0.8 %

NYSE:CALX opened at $28.25 on Tuesday. Calix has a 52 week low of $26.76 and a 52 week high of $53.90. The stock has a market capitalization of $1.85 billion, a PE ratio of 91.13 and a beta of 1.65. The stock’s 50-day moving average price is $33.04 and its 200-day moving average price is $37.45.

Calix (NYSE:CALX) last released its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Sell-side analysts expect that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC boosted its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Calix by 194.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the period. Assetmark Inc. boosted its position in shares of Calix by 31.9% in the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 382 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Calix by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after acquiring an additional 348 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Calix during the third quarter worth $111,000. 98.14% of the stock is 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.