Calix (NYSE:CALX) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Calix (NYSE:CALX) from a hold rating to a sell rating in a report released on Wednesday morning.

Several other equities analysts have also weighed in on CALX. Needham & Company LLC restated a buy rating and set a $50.00 price target on shares of Calix in a research report on Tuesday, April 23rd. Rosenblatt Securities reduced their target price on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, April 23rd. Roth Mkm reaffirmed a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Finally, Craig Hallum decreased their target price on Calix from $48.00 to $41.00 and set a buy rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Calix currently has a consensus rating of Hold and an average target price of $41.33.

Calix Stock Performance

CALX stock opened at $28.40 on Wednesday. Calix has a 52-week low of $26.76 and a 52-week high of $53.90. The business has a 50-day simple moving average of $32.79 and a two-hundred day simple moving average of $37.21. The company has a market capitalization of $1.86 billion, a P/E ratio of 91.61 and a beta of 1.65.

Calix (NYSE:CALX) last announced its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.64%. The company had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, sell-side analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its holdings in Calix by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 61,300 shares of the communications equipment provider’s stock valued at $2,033,000 after buying an additional 903 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Calix by 175.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 607,001 shares of the communications equipment provider’s stock worth $20,128,000 after acquiring an additional 386,318 shares during the period. Louisiana State Employees Retirement System lifted its stake in Calix by 75.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the communications equipment provider’s stock worth $962,000 after purchasing an additional 12,500 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in Calix in the 1st quarter valued at $700,000. Finally, Norden Group LLC boosted its holdings in Calix by 1,634.9% in the 1st quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock valued at $4,752,000 after purchasing an additional 135,039 shares during the period. 98.14% of the stock is currently owned by institutional investors.

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.