Calix (NYSE:CALX) PT Lowered to $41.00

Calix (NYSE:CALX) had its price target reduced by equities researchers at Craig Hallum from $48.00 to $41.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Craig Hallum’s price objective would indicate a potential upside of 45.13% from the company’s current price.

Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Calix in a report on Tuesday. Rosenblatt Securities cut their price objective on shares of Calix from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Calix in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.33.

Calix Price Performance

Shares of CALX opened at $28.25 on Wednesday. Calix has a 1 year low of $26.76 and a 1 year high of $53.90. The company has a 50 day simple moving average of $32.90 and a two-hundred day simple moving average of $37.38. The firm has a market cap 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.64%. The business had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same period last year, the firm posted $0.18 EPS. The company’s revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Calix will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TD Asset Management Inc lifted its position in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after buying an additional 1,349,625 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Calix by 213.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after buying an additional 643,392 shares during the last quarter. Norges Bank bought a new stake in Calix in the fourth quarter worth $26,483,000. Artisan Partners Limited Partnership lifted its position in Calix by 106.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,074,175 shares of the communications equipment provider’s stock worth $49,240,000 after buying an additional 554,003 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Calix in the fourth quarter worth $18,165,000. 98.14% of the stock is owned by hedge funds and other 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.