Rosenblatt Securities Reaffirms “Buy” Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They presently have a $45.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 19.27% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday, September 10th. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Craig Hallum boosted their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Price Performance

CALX stock opened at $37.73 on Thursday. The firm has a market cap of $2.47 billion, a PE ratio of 121.71 and a beta of 1.74. Calix has a 12 month low of $26.76 and a 12 month high of $46.29. The firm has a 50 day simple moving average of $37.40 and a 200 day simple moving average of $34.50.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. As a group, sell-side analysts expect that Calix will post -0.36 earnings per share for the current year.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 16.69% of the company’s stock.

Institutional Trading of Calix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Calix during the 1st quarter valued at about $48,000. TFO Wealth Partners LLC grew its holdings in 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 during the last quarter. Ariadne Wealth Management LP bought a new position in shares of Calix in the second quarter valued at approximately $60,000. Nisa Investment Advisors LLC lifted its stake in shares of Calix by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after buying an additional 303 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Calix by 8,924.4% during the 1st quarter. EntryPoint Capital LLC now owns 3,700 shares of the communications equipment provider’s stock worth $123,000 after buying an additional 3,659 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.