Jefferies Financial Group Downgrades Calix (NYSE:CALX) to Hold

Jefferies Financial Group downgraded shares of Calix (NYSE:CALX) from a buy rating to a hold rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $30.00 target price on the communications equipment provider’s stock, down from their previous target price of $48.00.

A number of other research firms have also recently commented on CALX. Rosenblatt Securities lowered their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a research report on Tuesday. Roth Mkm reaffirmed a buy rating and issued a $50.00 target price on shares of Calix in a research note on Monday. Craig Hallum reduced their target price on shares of Calix from $48.00 to $41.00 and set a buy rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and issued a $50.00 target price on shares of Calix in a research note on Tuesday. Finally, StockNews.com lowered shares of Calix from a hold rating to a sell rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $41.33.

Calix Price Performance

CALX stock opened at $28.25 on Thursday. The company has a 50 day moving average price of $32.90 and a 200 day moving average price of $37.38. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90. The stock has a market capitalization of $1.85 billion, a PE ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX) last issued 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. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.64%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities analysts expect that Calix will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calix

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Calix by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after acquiring an additional 298,277 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 bought a new position in shares of Calix in the 4th quarter valued at about $18,165,000. Ameriprise Financial Inc. grew its holdings in shares of Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Calix by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after acquiring an additional 20,015 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.