Calix (NYSE:CALX) Downgraded by StockNews.com

StockNews.com cut shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other research analysts have also recently commented on the company. Roth Mkm reaffirmed a buy rating and issued a $50.00 target price on shares of Calix in a research report on Monday, April 22nd. Craig Hallum reduced their price objective on shares of Calix from $48.00 to $41.00 and set a buy rating for the company in a report on Wednesday. Needham & Company LLC reissued a buy rating and issued a $50.00 target price on shares of Calix in a research note on Tuesday. Finally, Rosenblatt Securities cut their price target on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $41.33.

Calix Stock Performance

NYSE:CALX opened at $28.41 on Wednesday. The firm’s 50-day moving average is $32.79 and its 200-day moving average is $37.27. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 91.65 and a beta of 1.65. Calix has a 52-week low of $26.76 and a 52-week high of $53.90.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The firm had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Calix will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Calix

A number of large investors have recently bought and sold shares of CALX. Vanguard Group Inc. grew its holdings in shares of Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock worth $291,765,000 after purchasing an additional 298,277 shares during the last quarter. Wellington Management Group LLP increased its position in Calix by 24.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock valued at $72,831,000 after acquiring an additional 313,380 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Calix in the 4th quarter valued at about $18,165,000. Ameriprise Financial Inc. raised its stake in shares of 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 acquiring an additional 189,676 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Calix by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock worth $21,132,000 after purchasing an additional 20,015 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

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.