Calix (CALX) Raised to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Calix (NYSE:CALX) from a buy rating to a strong-buy rating in a report issued on Tuesday.

A number of other brokerages have also weighed in on CALX. Jefferies Financial Group reaffirmed a hold rating and issued a $6.50 target price on shares of Calix in a research note on Wednesday, August 8th. Cowen raised shares of Calix from a market perform rating to an outperform rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $7.67.

Shares of CALX stock opened at $10.26 on Tuesday. Calix has a 12-month low of $5.55 and a 12-month high of $10.40. The firm has a market capitalization of $520.14 million, a PE ratio of -6.58 and a beta of 0.78.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. Calix had a negative net margin of 5.73% and a negative return on equity of 18.02%. The company had revenue of $111.70 million during the quarter, compared to analyst estimates of $113.70 million. Sell-side analysts expect that Calix will post -0.2 earnings per share for the current fiscal year.

In related news, Director Kevin A. Denuccio bought 38,500 shares of Calix stock in a transaction that occurred on Thursday, August 16th. The stock was purchased at an average cost of $6.98 per share, with a total value of $268,730.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald J. Listwin bought 12,500 shares of Calix stock in a transaction that occurred on Thursday, November 8th. The stock was bought at an average cost of $9.80 per share, with a total value of $122,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 54,300 shares of company stock valued at $413,880. Company insiders own 18.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Calix by 14.5% during the 3rd quarter. BlackRock Inc. now owns 3,344,739 shares of the communications equipment provider’s stock worth $27,094,000 after buying an additional 423,803 shares in the last quarter. EAM Global Investors LLC bought a new stake in Calix during the 3rd quarter worth about $1,320,000. EAM Investors LLC bought a new stake in Calix during the 3rd quarter worth about $1,047,000. Lapides Asset Management LLC lifted its position in Calix by 2.1% during the 3rd quarter. Lapides Asset Management LLC now owns 2,924,200 shares of the communications equipment provider’s stock worth $23,686,000 after buying an additional 61,000 shares in the last quarter. Finally, Northpointe Capital LLC lifted its position in Calix by 29.7% during the 3rd quarter. Northpointe Capital LLC now owns 373,720 shares of the communications equipment provider’s stock worth $3,027,000 after buying an additional 85,671 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

About Calix

Calix, Inc, together with its subsidiaries, develops, markets, and sells software platforms, systems, and software for fiber- and copper-based network architectures that enable communications service providers (CSPs) to access networks. Its portfolio consists of E-Series access systems and nodes, B-Series access nodes, C-Series multiservice access system, and P-Series optical network terminals and residential gateways.

See Also: Bond

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Calix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply