Calix's (CALX) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Calix's stock has been reaffirmed with a "sell (d)" rating by Weiss Ratings, following mixed evaluations from various analysts regarding its investment potential.
• While there have been upgrades from other analysts, including a "strong-buy" rating from Wall Street Zen, the consensus rating remains a "Hold" with an average target price of $64.00.
• Recent trading saw Calix's stock rise to $61.35 per share, with notable insider selling activity, including a director selling shares valued at over $1.38 million.

Calix (NYSE:CALX - Get Free Report)'s stock had its "sell (d)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Calix from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Zacks Research cut shares of Calix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Rosenblatt Securities upped their target price on shares of Calix from $56.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Roth Capital increased their price target on shares of Calix from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Calix currently has a consensus rating of "Hold" and an average target price of $64.00.

Calix Stock Performance

Shares of NYSE:CALX traded up $1.19 during trading hours on Friday, reaching $61.35. The stock had a trading volume of 320,426 shares, compared to its average volume of 448,964. Calix has a 1 year low of $28.60 and a 1 year high of $64.30. The firm's 50 day moving average is $60.29 and its 200-day moving average is $51.88. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -153.38 and a beta of 1.32.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.41. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The company had revenue of $241.90 million for the quarter, compared to the consensus estimate of $223.81 million. During the same period in the prior year, the firm posted $0.09 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. Analysts forecast that Calix will post -0.43 EPS for the current year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total value of $1,385,000.00. Following the completion of the sale, the director owned 2,114,188 shares in the company, valued at approximately $117,126,015.20. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 76,555 shares of the company's stock, valued at $4,593,300. This represents a 11.55% decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Calix

A number of large investors have recently made changes to their positions in CALX. Illinois Municipal Retirement Fund increased its holdings in shares of Calix by 17.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 33,759 shares of the communications equipment provider's stock valued at $1,196,000 after purchasing an additional 5,045 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Calix during the first quarter worth about $922,000. Principal Financial Group Inc. raised its position in Calix by 2.4% during the first quarter. Principal Financial Group Inc. now owns 294,539 shares of the communications equipment provider's stock worth $10,438,000 after acquiring an additional 7,030 shares during the last quarter. Huntleigh Advisors Inc. raised its position in Calix by 16.6% during the first quarter. Huntleigh Advisors Inc. now owns 9,822 shares of the communications equipment provider's stock worth $348,000 after acquiring an additional 1,397 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Calix by 332.9% during the first quarter. New York State Common Retirement Fund now owns 286,719 shares of the communications equipment provider's stock worth $10,161,000 after acquiring an additional 220,491 shares during the last quarter. Hedge funds and other 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.

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