Calix (NYSE:CALX) Price Target Increased to $35.00 by Analysts at Jefferies Financial Group

Calix (NYSE:CALX) had its price objective increased by stock analysts at Jefferies Financial Group from $30.00 to $35.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 35.76% from the company’s previous close. Jefferies Financial Group also issued estimates for Calix’s Q4 2021 earnings at $0.15 EPS, Q1 2022 earnings at $0.07 EPS, Q2 2022 earnings at $0.14 EPS, Q3 2022 earnings at $0.19 EPS and FY2022 earnings at $0.59 EPS.

CALX has been the subject of a number of other research reports. Zacks Investment Research raised Calix from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Tuesday. Craig Hallum raised their target price on shares of Calix from $14.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Needham & Company LLC initiated coverage on shares of Calix in a research report on Wednesday, October 14th. They set a “buy” rating and a $25.00 price target on the stock. TheStreet upgraded shares of Calix from a “c” rating to a “b” rating in a report on Tuesday. Finally, Northland Securities reaffirmed a “buy” rating and set a $22.00 price objective (up from $16.00) on shares of Calix in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $25.64.

Shares of Calix stock traded up $0.33 during trading on Thursday, reaching $25.78. 16,945 shares of the stock were exchanged, compared to its average volume of 680,725. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 186.79 and a beta of 1.55. Calix has a 1 year low of $5.61 and a 1 year high of $27.78. The stock’s fifty day moving average is $19.26 and its 200 day moving average is $15.51.

Calix (NYSE:CALX) last released its quarterly earnings results on Tuesday, October 20th. The communications equipment provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.25. The business had revenue of $150.50 million during the quarter, compared to analyst estimates of $129.44 million. Calix had a positive return on equity of 1.81% and a negative net margin of 3.08%. The business’s revenue was up 31.0% compared to the same quarter last year. On average, analysts predict that Calix will post 0.31 earnings per share for the current year.

In other Calix news, Director Donald J. Listwin purchased 15,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was bought at an average cost of $21.00 per share, with a total value of $315,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.54% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of CALX. Nisa Investment Advisors LLC bought a new position in Calix during the 3rd quarter valued at approximately $32,000. Nuveen Asset Management LLC grew its stake in shares of Calix by 1.1% in the first quarter. Nuveen Asset Management LLC now owns 177,475 shares of the communications equipment provider’s stock worth $1,256,000 after acquiring an additional 1,888 shares during the last quarter. American International Group Inc. grew its stake in shares of Calix by 7.4% in the second quarter. American International Group Inc. now owns 29,705 shares of the communications equipment provider’s stock worth $443,000 after acquiring an additional 2,046 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Calix by 3.8% during the second quarter. California State Teachers Retirement System now owns 73,232 shares of the communications equipment provider’s stock valued at $1,091,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Calix in the 2nd quarter worth about $55,000. Institutional investors own 72.65% of the company’s stock.

About Calix

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services required to deliver the unified access network in the United States, the Middle East, Canada, Europe, the Caribbean, and internationally. The company's cloud and software platforms, and systems and services enable communication service providers (CSPs) to provide a range of services, such as basic voice and data, and advanced broadband services.

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