Calix Inc (CALX) Receives Consensus Rating of “Hold” from Brokerages
Shares of Calix Inc (NYSE:CALX) have earned a consensus rating of “Hold” from the six brokerages that are covering the company. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.67.
Several brokerages have issued reports on CALX. Zacks Investment Research raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reissued a “hold” rating and issued a $7.00 target price on shares of Calix in a research report on Thursday, March 23rd. Finally, Northland Securities cut Calix from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $9.00 to $7.00 in a research report on Wednesday, February 15th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Calix by 136.9% in the first quarter. Goldman Sachs Group Inc. now owns 51,671 shares of the communications equipment provider’s stock valued at $375,000 after buying an additional 29,861 shares during the last quarter. Lapides Asset Management LLC boosted its position in shares of Calix by 8.7% in the first quarter. Lapides Asset Management LLC now owns 2,881,800 shares of the communications equipment provider’s stock valued at $20,893,000 after buying an additional 230,800 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Calix by 14.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 28,938 shares of the communications equipment provider’s stock valued at $210,000 after buying an additional 3,617 shares during the last quarter. Divisar Capital Management LLC purchased a new position in shares of Calix during the first quarter valued at about $1,344,000. Finally, Soros Fund Management LLC purchased a new position in shares of Calix during the first quarter valued at about $1,447,000. 66.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Calix (NYSE:CALX) traded down 0.75% during midday trading on Friday, reaching $6.65. The company had a trading volume of 147,059 shares. The company has a 50 day moving average of $6.68 and a 200 day moving average of $7.11. Calix has a 12-month low of $6.15 and a 12-month high of $8.20. The firm’s market capitalization is $331.67 million.
Calix (NYSE:CALX) last announced its earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $0.05. The firm had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $112.17 million. Calix had a negative return on equity of 7.01% and a negative net margin of 5.89%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. Analysts anticipate that Calix will post ($0.40) EPS for the current year.
Calix Company Profile
Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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