Calix’s (CALX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Calix (NYSE:CALX) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $45.00 price target on the communications equipment provider’s stock.

Several other equities research analysts have also recently commented on the stock. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Craig Hallum upped their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. Roth Mkm lifted their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Calix presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Price Performance

Shares of Calix stock opened at $35.40 on Tuesday. The firm has a 50 day simple moving average of $37.47 and a 200 day simple moving average of $35.24. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $45.15. The firm has a market cap of $2.33 billion, a P/E ratio of -147.50 and a beta of 1.74.

Calix (NYSE:CALX) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The firm’s quarterly revenue was down 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, sell-side analysts expect that Calix will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Calix in the 1st quarter valued at approximately $1,145,000. Epoch Investment Partners Inc. grew its holdings in shares of Calix by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after acquiring an additional 219,699 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Calix in the first quarter valued at about $669,000. FORA Capital LLC bought a new stake in Calix during the first quarter worth about $724,000. Finally, Vanguard Group Inc. grew its stake in Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

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.