Calix (NYSE:CALX) Downgraded to Sell at StockNews.com

Calix (NYSE:CALX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

CALX has been the subject of a number of other reports. Roth Mkm reissued a “buy” rating and set a $50.00 target price on shares of Calix in a research note on Monday. Craig Hallum lowered their target price on Calix from $48.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Calix in a research note on Tuesday. Finally, Rosenblatt Securities lowered their target price on Calix from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.33.

Calix Price Performance

Shares of NYSE:CALX opened at $28.25 on Wednesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. The firm’s 50 day simple moving average is $32.90 and its 200 day simple moving average is $37.38. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.64%. Calix’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Equities research analysts expect that Calix will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Calix by 4.9% in the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after buying an additional 298,277 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Calix by 24.6% in the third quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock valued at $72,831,000 after buying an additional 313,380 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Calix in the fourth quarter valued at $18,165,000. Ameriprise Financial Inc. grew its stake in shares of Calix by 15.3% in the third quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after buying an additional 189,676 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Calix by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after buying an additional 20,015 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

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.