Calix (NYSE:CALX) Downgraded to “Hold” at Jefferies Financial Group

Jefferies Financial Group lowered shares of Calix (NYSE:CALX) from a buy rating to a hold rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has $30.00 target price on the communications equipment provider’s stock, down from their previous target price of $48.00.

A number of other research analysts also recently commented on the company. StockNews.com downgraded Calix from a hold rating to a sell rating in a report on Wednesday. Needham & Company LLC reissued a buy rating and issued a $50.00 price target on shares of Calix in a report on Tuesday. Craig Hallum cut their price target on Calix from $48.00 to $41.00 and set a buy rating on the stock in a report on Wednesday. Roth Mkm reissued a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday. Finally, Rosenblatt Securities cut their price target on Calix from $45.00 to $35.00 and set a buy rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Calix presently has an average rating of Hold and a consensus price target of $41.33.

Calix Stock Performance

Shares of CALX opened at $28.25 on Thursday. The company has a market capitalization of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65. Calix has a one year low of $26.76 and a one year high of $53.90. The stock has a 50-day moving average price of $32.90 and a 200 day moving average price of $37.38.

Calix (NYSE:CALX) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The company had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. During the same quarter last year, the business posted $0.18 EPS. Calix’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Calix by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after acquiring an additional 298,277 shares during the period. Wellington Management Group LLP increased its position in Calix by 24.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock valued at $72,831,000 after acquiring an additional 313,380 shares during the period. Artemis Investment Management LLP acquired a new stake in Calix in the 4th quarter valued at approximately $18,165,000. Ameriprise Financial Inc. increased its position in Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Calix by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after acquiring an additional 20,015 shares during the period. 98.14% of the stock is currently 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.