StockNews.com Downgrades Calix (NYSE:CALX) to Sell

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

A number of other equities analysts have also commented on CALX. Rosenblatt Securities decreased their price objective on shares of Calix from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Calix in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Calix in a research note on Tuesday. Finally, Craig Hallum decreased their price objective on shares of Calix from $48.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday. One research 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.com, the company has an average rating of “Hold” and an average target price of $41.33.

Calix Stock Performance

Shares of NYSE:CALX opened at $28.25 on Wednesday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. Calix has a 1-year low of $26.76 and a 1-year high of $53.90. The company has a 50 day moving average price of $32.90 and a 200 day moving average price of $37.38.

Calix (NYSE:CALX) last posted its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping 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 firm had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same quarter last year, the business posted $0.18 EPS. The company’s revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System raised its holdings in shares of Calix by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 61,300 shares of the communications equipment provider’s stock valued at $2,033,000 after purchasing an additional 903 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Calix by 175.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 607,001 shares of the communications equipment provider’s stock valued at $20,128,000 after purchasing an additional 386,318 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Calix by 75.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the communications equipment provider’s stock valued at $962,000 after purchasing an additional 12,500 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Calix during the 1st quarter valued at $700,000. Finally, Norden Group LLC raised its holdings in shares of Calix by 1,634.9% during the 1st quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock valued at $4,752,000 after purchasing an additional 135,039 shares in the last quarter. Hedge funds and other institutional investors 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.