JPMorgan Chase & Co. Increases Calix (NYSE:CALX) Price Target to $41.00

Calix (NYSE:CALX) had its price objective boosted by JPMorgan Chase & Co. from $28.00 to $41.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.65% from the company’s previous close.

CALX has been the subject of a number of other research reports. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Calix in a report on Monday, May 20th. Craig Hallum lowered their price target on shares of Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Roth Mkm restated a “buy” rating and set a $50.00 price objective on shares of Calix in a research note on Monday, April 22nd. Finally, Jefferies Financial Group cut Calix from a “buy” rating to a “hold” rating and decreased their price objective for the company from $48.00 to $30.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.33.

Calix Stock Performance

NYSE CALX traded up $1.02 on Monday, reaching $37.39. The company had a trading volume of 1,313,641 shares, compared to its average volume of 846,846. The company’s fifty day moving average is $34.43 and its 200-day moving average is $34.61. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 120.61 and a beta of 1.76. Calix has a 1-year low of $26.76 and a 1-year high of $48.53.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, April 22nd. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $226.31 million for the quarter, compared to analyst estimates of $228.01 million. Calix had a return on equity of 6.64% and a net margin of 2.19%. On average, research analysts forecast that Calix will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Headlands Technologies LLC bought a new stake in Calix in the first quarter valued at approximately $48,000. TFO Wealth Partners LLC increased its holdings in shares of Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Calix by 13.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after acquiring an additional 303 shares during the period. Quadrant Capital Group LLC lifted its holdings in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Calix by 41.5% during the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 655 shares during the period. Institutional investors 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.