Calix (NYSE:CALX) Shares Gap Down Following Analyst Downgrade

Shares of Calix, Inc. (NYSE:CALX) gapped down prior to trading on Tuesday after Rosenblatt Securities lowered their price target on the stock from $45.00 to $35.00. The stock had previously closed at $29.56, but opened at $26.80. Rosenblatt Securities currently has a buy rating on the stock. Calix shares last traded at $29.63, with a volume of 518,765 shares.

A number of other research firms also recently weighed in on CALX. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Calix in a research report on Wednesday, April 17th. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 target price on shares of Calix in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Institutional Investors Weigh In On Calix

Institutional investors and hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC lifted its position in shares of Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after acquiring an additional 1,103 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Calix by 194.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 1,011 shares during the period. Assetmark Inc. raised its stake in Calix by 31.9% during the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 382 shares during the period. Quadrant Capital Group LLC raised its stake in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Calix during the 3rd quarter valued at $111,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Performance

The firm’s 50 day simple moving average is $33.27 and its 200-day simple moving average is $37.62. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 3.06% and a return on equity of 7.92%. The business had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. During the same period in the prior year, the business posted $0.18 earnings per share. Calix’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Calix, Inc. will post 0.45 earnings per share for the current fiscal year.

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.