Calix, Inc (NYSE:CALX) Stock Has Consensus Price Target of $55.80 According to Analysts

Calix, Inc (NYSE:CALX) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $55.80.

Several brokerages have issued reports on CALX. Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Calix from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Zacks Research upgraded shares of Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Roth Capital reissued a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 75,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $31.07, for a total value of $2,330,250.00. Following the completion of the sale, the director owned 1,494,188 shares in the company, valued at approximately $46,424,421.16. This represents a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CALX. Advisors Asset Management Inc. purchased a new position in Calix during the third quarter worth approximately $126,000. Landscape Capital Management L.L.C. acquired a new position in Calix during the third quarter worth $259,000. First Eagle Investment Management LLC purchased a new stake in Calix in the 3rd quarter valued at $5,326,000. Diversified Trust Co grew its holdings in Calix by 34.4% in the 3rd quarter. Diversified Trust Co now owns 15,857 shares of the communications equipment provider’s stock valued at $545,000 after buying an additional 4,056 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in Calix by 48.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,693 shares of the communications equipment provider’s stock valued at $436,000 after buying an additional 4,151 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

Shares of Calix stock opened at $32.59 on Monday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 47.93 and a beta of 1.21. The business has a 50 day simple moving average of $35.27 and a two-hundred day simple moving average of $41.72. Calix has a 12 month low of $30.55 and a 12 month high of $64.33.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Calix had a return on equity of 5.67% and a net margin of 3.99%. The firm had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. During the same period in the previous year, the company posted $0.44 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, research analysts anticipate that Calix will post 0.85 EPS for the current fiscal year.

Calix Company Profile

Calix, Inc. provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers. The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.