Calix (NYSE:CALX) Shares Gap Down on Analyst Downgrade

Calix, Inc. (NYSE:CALX) shares gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock had previously closed at $29.56, but opened at $26.80. Calix shares last traded at $29.63, with a volume of 518,765 shares traded.

A number of other research firms have also commented on CALX. Craig Hallum reduced their price objective on shares of Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities reduced their price target on shares of Calix from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Calix in a report on Tuesday. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price target on shares of Calix in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and an average price target of $43.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its position in shares of Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Calix by 194.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 1,011 shares in the last quarter. Assetmark Inc. lifted its position in shares of Calix by 31.9% during the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 382 shares in the last quarter. Quadrant Capital Group LLC lifted its position 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 valued at $98,000 after purchasing an additional 348 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Calix during the third quarter valued at about $111,000. 98.14% of the stock is owned by institutional investors.

Calix Stock Up 0.8 %

The business’s 50-day moving average is $33.04 and its two-hundred day moving average is $37.45. The company has a market capitalization of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. The business 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 company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Analysts predict that Calix, Inc. will post 0.45 EPS for the current year.

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.