Calix (NYSE:CALX) Price Target Cut to $41.00 by Analysts at Craig Hallum

Calix (NYSE:CALX) had its price target lowered by Craig Hallum from $48.00 to $41.00 in a research report report published on Wednesday, Benzinga reports. Craig Hallum currently has a buy rating on the communications equipment provider’s stock.

Several other research analysts have also weighed in on the stock. Needham & Company LLC reiterated a buy rating and set a $50.00 price objective on shares of Calix in a report on Tuesday, April 23rd. Rosenblatt Securities cut their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Finally, Roth Mkm reiterated a buy rating and set a $50.00 price objective on shares of Calix in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $41.33.

Calix Price Performance

Shares of CALX stock opened at $28.40 on Wednesday. The firm has a market cap of $1.86 billion, a PE ratio of 91.61 and a beta of 1.65. The company has a 50-day moving average of $32.79 and a two-hundred day moving average of $37.21. Calix has a 1-year low of $26.76 and a 1-year high of $53.90.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC raised its holdings in Calix by 4.0% in the third quarter. Los Angeles Capital Management LLC now owns 8,224 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 314 shares during the period. Panagora Asset Management Inc. grew its position in Calix by 0.3% in the third quarter. Panagora Asset Management Inc. now owns 103,223 shares of the communications equipment provider’s stock valued at $4,732,000 after acquiring an additional 339 shares in the last quarter. Inspire Investing LLC grew its position in Calix by 5.5% in the third quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock valued at $304,000 after acquiring an additional 348 shares in the last quarter. Quadrant Capital Group LLC grew its position in Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after acquiring an additional 348 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its position in Calix by 4.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 8,780 shares of the communications equipment provider’s stock valued at $384,000 after acquiring an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.