Calix, Inc. (NYSE:CALX) Receives Average Rating of "Moderate Buy" from Analysts

Calix, Inc. (NYSE:CALX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.83.

Several equities research analysts recently issued reports on the company. Rosenblatt Securities lifted their price objective on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $53.00 price objective on shares of Calix in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Finally, UBS Group reissued a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the transaction, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock worth $4,404,000 after acquiring an additional 73,588 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Calix by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider's stock valued at $4,948,000 after acquiring an additional 40,306 shares during the last quarter. Diversified Trust Co raised its holdings in Calix by 18.1% during the fourth quarter. Diversified Trust Co now owns 12,030 shares of the communications equipment provider's stock worth $419,000 after purchasing an additional 1,845 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Calix by 25.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 14,301 shares of the communications equipment provider's stock worth $499,000 after acquiring an additional 2,911 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Calix during the 4th quarter worth approximately $391,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Price Performance

NYSE CALX traded up $0.52 during trading hours on Thursday, reaching $44.71. The company's stock had a trading volume of 72,081 shares, compared to its average volume of 687,650. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -99.35 and a beta of 1.38. The company's 50-day moving average is $35.94 and its two-hundred day moving average is $36.07. Calix has a 1-year low of $28.61 and a 1-year high of $45.02.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million during the quarter, compared to analysts' expectations of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts forecast that Calix will post -0.43 EPS for the current fiscal year.

Calix declared that its Board of Directors has approved a share repurchase plan on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.