Calix, Inc. (NYSE:CALX) has received an average recommendation of "Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $26.17.
A number of research firms have issued reports on CALX. TheStreet raised shares of Calix from a "c" rating to a "b" rating in a report on Tuesday, October 20th. Zacks Investment Research cut Calix from a "buy" rating to a "hold" rating in a research report on Wednesday, December 23rd. Craig Hallum increased their price objective on Calix from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Needham & Company LLC began coverage on Calix in a report on Wednesday, October 14th. They set a "buy" rating and a $25.00 target price for the company. Finally, BidaskClub upgraded Calix from a "hold" rating to a "buy" rating in a research report on Thursday, December 17th.
Shares of NYSE:CALX opened at $32.03 on Thursday. The business's 50-day moving average is $28.32 and its 200 day moving average is $22.14. Calix has a 1 year low of $5.61 and a 1 year high of $33.38. The firm has a market capitalization of $1.98 billion, a P/E ratio of 228.79 and a beta of 1.49.
Calix (NYSE:CALX) last issued its quarterly earnings results on Tuesday, October 20th. The communications equipment provider reported $0.40 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.15 by $0.25. The business had revenue of $150.50 million for the quarter, compared to analyst estimates of $129.44 million. Calix had a return on equity of 13.51% and a net margin of 2.01%. The business's revenue was up 31.0% compared to the same quarter last year. On average, equities analysts predict that Calix will post 0.66 earnings per share for the current fiscal year.
In other Calix news, Director Donald J. Listwin purchased 20,000 shares of Calix stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average price of $22.53 per share, with a total value of $450,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Matthews sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $24.09, for a total value of $240,900.00. The disclosure for this sale can be found here. 17.54% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of CALX. State Street Corp lifted its position in shares of Calix by 7.1% during the 3rd quarter. State Street Corp now owns 1,064,586 shares of the communications equipment provider's stock valued at $18,928,000 after buying an additional 70,157 shares in the last quarter. California Public Employees Retirement System raised its position in Calix by 10.6% during the third quarter. California Public Employees Retirement System now owns 121,860 shares of the communications equipment provider's stock worth $2,167,000 after acquiring an additional 11,719 shares during the period. FMR LLC purchased a new position in Calix during the second quarter valued at $3,668,000. ExodusPoint Capital Management LP acquired a new stake in shares of Calix in the third quarter valued at about $941,000. Finally, Sciencast Management LP purchased a new stake in shares of Calix during the third quarter worth about $242,000. Institutional investors and hedge funds own 71.31% of the company's stock.
Calix Company Profile
Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services required to deliver the unified access network in the United States, the Middle East, Canada, Europe, the Caribbean, and internationally. The company's cloud and software platforms, and systems and services enable communication service providers (CSPs) to provide a range of services, such as basic voice and data, and advanced broadband services.
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