Craig Hallum Cuts Calix (NYSE:CALX) Price Target to $41.00

Calix (NYSE:CALX - Free Report) had its price objective cut by Craig Hallum from $48.00 to $41.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the communications equipment provider's stock.

A number of other equities analysts also recently weighed in on CALX. Needham & Company LLC restated a buy rating and set a $50.00 target price on shares of Calix in a report on Tuesday. StockNews.com upgraded Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Rosenblatt Securities cut their price objective on Calix from $45.00 to $35.00 and set a buy rating for the company in a research report on Tuesday. Finally, Roth Mkm reissued a buy rating and set a $50.00 target price on shares of Calix in a report on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy 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 $43.60.

Calix Stock Performance

Calix stock traded up $0.22 during mid-day trading on Wednesday, reaching $28.25. The company's stock had a trading volume of 1,189,297 shares, compared to its average volume of 1,010,304. Calix has a 12 month low of $26.76 and a 12 month high of $53.90. The business's 50 day simple moving average is $33.04 and its 200 day simple moving average is $37.45. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 6.65% and a net margin of 2.19%. The company had revenue of $264.73 million during the quarter, compared to analysts' expectations of $264.41 million. During the same quarter last year, the company earned $0.18 EPS. Calix's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Calix will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider's stock worth $291,765,000 after buying an additional 298,277 shares in the last quarter. Wellington Management Group LLP lifted its position in Calix by 24.6% during the third quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider's stock worth $72,831,000 after purchasing an additional 313,380 shares during the period. Artemis Investment Management LLP acquired a new stake in Calix during the fourth quarter worth about $18,165,000. Ameriprise Financial Inc. increased its holdings in Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider's stock valued at $65,534,000 after buying an additional 189,676 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Calix by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider's stock worth $21,132,000 after acquiring an additional 20,015 shares during the period. Institutional investors and hedge funds 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.