Calix (NYSE:CALX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Calix from “buy” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $57.40.
• Calix shares opened at $36.75, with a market capitalization of approximately $2.31 billion and a one-year trading range of $32.35 to $71.22.
• Institutional investors own 98.14% of Calix’s stock, with several funds recently increasing their positions.

Calix (NYSE:CALX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on CALX. Zacks Research upgraded shares of Calix from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. decreased their price target on shares of Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Northland Securities upgraded shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price target for the company in a research note on Tuesday, July 21st. Roth Capital reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and two have given a Hold 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 $57.40.

Calix Stock Performance

NYSE CALX opened at $36.75 on Friday. The firm has a 50 day simple moving average of $36.20 and a 200-day simple moving average of $42.66. Calix has a one year low of $32.35 and a one year high of $71.22. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 49.66 and a beta of 1.32.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio lifted its position in shares of Calix by 1.5% during the 1st quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider's stock valued at $1,009,000 after acquiring an additional 300 shares during the period. Inspire Investing LLC boosted its stake in shares of Calix by 1.8% during the 3rd quarter. Inspire Investing LLC now owns 18,681 shares of the communications equipment provider's stock worth $642,000 after acquiring an additional 338 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Calix by 254.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider's stock worth $30,000 after acquiring an additional 630 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Calix by 3.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,140 shares of the communications equipment provider's stock worth $940,000 after acquiring an additional 647 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Calix by 85.4% in the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider's stock worth $49,000 after acquiring an additional 666 shares during the period. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company's offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.