Calix, Inc. (NYSE:CALX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Calix, Inc. (NYSE:CALX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $43.17.

Several research firms recently issued reports on CALX. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 358 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 465 shares during the period. Atria Investments Inc boosted its stake in shares of Calix by 7.1% in the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock valued at $248,000 after purchasing an additional 469 shares during the period. National Bank of Canada FI boosted its stake in shares of Calix by 0.4% in the third quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock valued at $5,515,000 after purchasing an additional 520 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Stock Up 0.8 %

Shares of NYSE CALX opened at $35.97 on Wednesday. The firm has a 50-day simple moving average of $37.41 and a 200-day simple moving average of $36.26. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -79.94 and a beta of 1.78. Calix has a 52 week low of $26.76 and a 52 week high of $42.50.

Calix (NYSE:CALX) last issued its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. As a group, equities research analysts expect that Calix will post -0.43 EPS for the current year.

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.