Rosenblatt Securities Issues Positive Forecast for Calix (NYSE:CALX) Stock Price

Calix (NYSE:CALX - Get Free Report) had its price target hoisted by equities research analysts at Rosenblatt Securities from $56.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the communications equipment provider's stock. Rosenblatt Securities' price target would suggest a potential upside of 21.57% from the stock's current price.

A number of other analysts have also weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $53.00 target price on shares of Calix in a research note on Tuesday, April 22nd. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen cut Calix from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Roth Capital set a $50.00 target price on Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Calix has a consensus rating of "Moderate Buy" and a consensus price target of $52.33.

Calix Trading Down 0.5%

Shares of NYSE CALX traded down $0.27 during midday trading on Tuesday, reaching $53.47. The company's stock had a trading volume of 476,777 shares, compared to its average volume of 697,006. Calix has a fifty-two week low of $28.61 and a fifty-two week high of $55.95. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -102.66 and a beta of 1.37. The stock has a 50 day simple moving average of $48.75 and a 200-day simple moving average of $41.15.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.41. The business had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The firm's revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, equities analysts anticipate that Calix will post -0.43 EPS for the current year.

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

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the sale, the director directly owned 2,139,188 shares of the company's stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the transaction, the chief financial officer directly owned 76,285 shares in the company, valued at $3,966,820. The trade was a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank increased its holdings in shares of Calix by 1.1% during the fourth quarter. Swiss National Bank now owns 116,500 shares of the communications equipment provider's stock worth $4,062,000 after buying an additional 1,300 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Calix during the fourth quarter worth approximately $84,000. American Century Companies Inc. increased its holdings in shares of Calix by 1.3% during the fourth quarter. American Century Companies Inc. now owns 117,545 shares of the communications equipment provider's stock worth $4,099,000 after buying an additional 1,537 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Calix during the fourth quarter worth approximately $425,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Calix during the fourth quarter worth approximately $475,000. 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.

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