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

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

A number of other research analysts have also weighed in on CALX. Craig Hallum raised their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Rosenblatt Securities boosted their price target on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research report 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.50.

Calix Trading Up 6.7 %

Shares of CALX stock opened at $38.64 on Wednesday. The company has a market capitalization of $2.53 billion, a P/E ratio of 124.35 and a beta of 1.74. Calix has a 12-month low of $26.76 and a 12-month high of $47.15. The business’s 50 day moving average is $36.77 and its two-hundred day moving average is $34.25.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm 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%. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, research analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares during the period. Dimensional Fund Advisors LP boosted its stake in Calix by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock worth $63,546,000 after buying an additional 45,656 shares during the period. Wellington Management Group LLP boosted its stake in Calix by 10.5% during the fourth quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after buying an additional 166,695 shares during the period. TD Asset Management Inc increased its position in shares of Calix by 516.6% during the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY raised its stake in shares of Calix by 9.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after acquiring an additional 115,500 shares during the period. Institutional investors and hedge funds 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.