Calix, Inc. (NYSE:CALX) Receives $47.83 Average Price Target from Analysts

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $47.83.

Several analysts recently issued reports on CALX shares. Rosenblatt Securities boosted their price objective on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Finally, UBS Group restated a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On Calix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 640 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Calix in the 1st quarter valued at approximately $28,000. Signaturefd LLC raised its holdings in shares of Calix by 91.1% in the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 480 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Calix in the fourth quarter valued at $84,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Up 1.2 %

CALX opened at $43.16 on Thursday. Calix has a twelve month low of $28.61 and a twelve month high of $43.54. The company has a market cap of $2.80 billion, a PE ratio of -95.91 and a beta of 1.38. The company has a 50-day moving average price of $35.76 and a 200 day moving average price of $36.04.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts expect that Calix will post -0.43 earnings per share for the current year.

Calix announced that its board has authorized a share repurchase program on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Calix Company Profile

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.