Craig Hallum Cuts Calix (NYSE:CALX) Price Target to $41.00

Calix (NYSE:CALX) had its price target reduced by stock analysts at Craig Hallum from $48.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Craig Hallum’s price objective indicates a potential upside of 46.06% from the stock’s previous close.

CALX has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Calix in a research report on Tuesday. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Calix in a report on Monday. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities cut their price objective on Calix from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Calix Stock Up 0.1 %

NYSE CALX traded up $0.04 on Wednesday, hitting $28.07. The stock had a trading volume of 420,171 shares, compared to its average volume of 1,000,168. The company’s 50-day moving average is $33.16 and its two-hundred day moving average is $37.51. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 90.48 and a beta of 1.65. Calix has a one year low of $26.76 and a one year high of $53.90.

Calix (NYSE:CALX) last posted its 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 6.65% and a net margin of 2.19%. The firm had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Calix will post 0.45 earnings per share for the current year.

Institutional Trading of Calix

Hedge funds and other institutional investors have recently modified their holdings of the company. TD Asset Management Inc lifted its stake in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Epoch Investment Partners Inc. grew its position in shares of Calix by 213.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock valued at $41,259,000 after purchasing an additional 643,392 shares during the last quarter. Norges Bank bought a new position in shares of Calix in the fourth quarter worth about $26,483,000. Artisan Partners Limited Partnership lifted its position in shares of Calix by 106.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,074,175 shares of the communications equipment provider’s stock worth $49,240,000 after purchasing an additional 554,003 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Calix during the 4th quarter valued at approximately $18,165,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.