BidaskClub Upgrades Calix, Inc (CALX) to Buy

Calix, Inc (NYSE:CALX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th.

Other research analysts have also recently issued research reports about the company. Northland Securities set a $6.00 price target on Calix and gave the stock a “hold” rating in a research note on Sunday, August 13th. Zacks Investment Research raised Calix from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group LLC reissued a “hold” rating and issued a $7.00 price target on shares of Calix in a research note on Friday, October 6th. Finally, ValuEngine raised Calix from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Shares of Calix (NYSE CALX) traded up $0.05 on Tuesday, reaching $5.40. The company had a trading volume of 37,070 shares, compared to its average volume of 204,496. Calix has a 52-week low of $4.65 and a 52-week high of $8.10.

Calix (NYSE:CALX) last released its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.15). Calix had a negative return on equity of 30.33% and a negative net margin of 12.72%. The business had revenue of $126.12 million during the quarter, compared to the consensus estimate of $123.70 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. analysts anticipate that Calix will post -1.47 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in CALX. American International Group Inc. lifted its holdings in shares of Calix by 7.1% in the first quarter. American International Group Inc. now owns 25,413 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 1,676 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Calix by 15.5% in the second quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock valued at $189,000 after buying an additional 3,696 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Calix by 2.7% in the second quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock valued at $192,000 after buying an additional 729 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings 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 period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Calix by 55.4% in the second quarter. Parametric Portfolio Associates LLC now owns 30,850 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 11,001 shares during the period. Institutional investors and hedge funds own 64.59% of the company’s stock.

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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