Calix, Inc (NYSE:CALX) Receives $48.50 Average Target Price from Brokerages

Calix, Inc (NYSE:CALX - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $48.50.

Several research firms recently weighed in on CALX. Rosenblatt Securities increased their price target on shares of Calix from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Roth Capital set a $50.00 target price on shares of Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. UBS Group reissued a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price objective on shares of Calix in a research note on Tuesday, April 22nd.

Calix Stock Performance

Shares of Calix stock traded up $1.91 during mid-day trading on Friday, hitting $53.21. 1,065,935 shares of the stock were exchanged, compared to its average volume of 688,927. Calix has a 12 month low of $28.61 and a 12 month high of $53.64. The company has a 50-day simple moving average of $45.54 and a 200 day simple moving average of $39.47. The company has a market capitalization of $3.45 billion, a P/E ratio of -102.33 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. During the same period last year, the company posted $0.21 earnings per share. Analysts predict that Calix will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has initiated a share buyback program on Monday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director directly owned 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.90% of the company's stock.

Institutional Trading of Calix

A number of large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 640 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Calix during the first quarter valued at about $28,000. Signaturefd LLC lifted its stake in Calix by 91.1% during the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 480 shares during the last quarter. Quarry LP boosted its holdings in shares of Calix by 1,704.0% in the 1st quarter. Quarry LP now owns 1,353 shares of the communications equipment provider's stock worth $48,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Calix in the 4th quarter worth about $84,000. Institutional investors own 98.14% of the company's stock.

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.