Calix (NYSE:CALX) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Calix (NYSE:CALXGet Rating) from a sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Calix provides the cloud, software platforms, systems and services required for communications service providers to simplify their business, excite their subscribers and grow their value. “

CALX has been the topic of a number of other reports. Needham & Company LLC reiterated a buy rating and issued a $60.00 target price on shares of Calix in a report on Thursday, May 19th. TheStreet cut Calix from a b rating to a c rating in a research note on Thursday, January 27th. Loop Capital started coverage on Calix in a research note on Wednesday, February 23rd. They set a buy rating and a $70.00 price objective on the stock. Cowen dropped their price objective on Calix from $57.00 to $48.00 in a research note on Wednesday, April 27th. Finally, Cowen dropped their price objective on Calix from $57.00 to $48.00 in a research note on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $61.73.

Shares of CALX opened at $37.81 on Thursday. Calix has a 12-month low of $32.56 and a 12-month high of $80.95. The business’s fifty day moving average is $38.85 and its 200 day moving average is $51.78. The stock has a market cap of $2.44 billion, a P/E ratio of 11.39, a P/E/G ratio of 7.88 and a beta of 1.56.

Calix (NYSE:CALXGet Rating) last issued its earnings results on Monday, April 25th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Calix had a return on equity of 11.66% and a net margin of 32.17%. The company had revenue of $184.95 million for the quarter, compared to analysts’ expectations of $177.64 million. During the same period last year, the business earned $0.32 EPS. Calix’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Calix will post 0.24 earnings per share for the current fiscal year.

In related news, Director Kevin A. Denuccio sold 12,477 shares of Calix stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $40.00, for a total value of $499,080.00. Following the completion of the sale, the director now owns 80,000 shares of the company’s stock, valued at approximately $3,200,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Donald J. Listwin sold 33,750 shares of Calix stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $39.97, for a total value of $1,348,987.50. Following the completion of the sale, the director now directly owns 751,250 shares of the company’s stock, valued at approximately $30,027,462.50. The disclosure for this sale can be found here. Insiders own 16.64% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in Calix by 142.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 67,475 shares of the communications equipment provider’s stock valued at $2,895,000 after buying an additional 39,592 shares in the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in Calix during the 1st quarter valued at about $7,509,000. Alyeska Investment Group L.P. purchased a new position in Calix during the 1st quarter valued at about $16,189,000. Point72 Hong Kong Ltd grew its holdings in Calix by 34.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,866 shares of the communications equipment provider’s stock valued at $80,000 after buying an additional 481 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in Calix during the 1st quarter valued at about $12,977,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Calix Company Profile (Get Rating)

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

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Analyst Recommendations for Calix (NYSE:CALX)

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