Brokerages Set Calix, Inc. (NYSE:CALX) Target Price at $41.33

Calix, Inc. (NYSE:CALX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.33.

A number of equities analysts have issued reports on CALX shares. Rosenblatt Securities cut their price objective on shares of Calix from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Craig Hallum lowered their target price on Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. StockNews.com cut Calix from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Jefferies Financial Group cut Calix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $30.00 in a research note on Thursday, April 25th. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Calix in a research note on Monday, April 22nd.

Calix Stock Performance

Calix stock opened at $27.74 on Friday. Calix has a 52-week low of $26.76 and a 52-week high of $53.90. The firm has a 50 day moving average price of $32.68 and a two-hundred day moving average price of $37.04. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 89.45 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. Calix had a net margin of 2.19% and a return on equity of 6.64%. The company had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts predict that Calix will post 0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CALX. Vanguard Group Inc. grew its holdings in shares of Calix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock worth $280,617,000 after purchasing an additional 58,069 shares in the last quarter. Wellington Management Group LLP boosted its stake in Calix by 10.5% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Calix by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock worth $73,057,000 after buying an additional 35,992 shares in the last quarter. TD Asset Management Inc boosted its stake 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 in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Calix by 15.3% in the third quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock worth $65,534,000 after buying an additional 189,676 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.