Calix Inc. (CALX) Stock Rating Lowered by Zacks Investment Research
Calix Inc. (NYSE:CALX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
CALX has been the topic of a number of other research reports. TheStreet upgraded Calix from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Morgan Stanley set a $9.00 price target on Calix and gave the company a “hold” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $8.82.
Calix (NYSE:CALX) opened at 6.96 on Monday. The stock has a 50 day moving average price of $7.28 and a 200-day moving average price of $7.16. Calix has a 12-month low of $5.64 and a 12-month high of $9.07. The stock’s market capitalization is $339.52 million.
Calix (NYSE:CALX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Calix had a negative return on equity of 4.88% and a negative net margin of 5.95%. The business had revenue of $107.40 million for the quarter, compared to the consensus estimate of $106.20 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Calix’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts expect that Calix will post ($0.06) EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in CALX. GSA Capital Partners LLP boosted its stake in Calix by 46.1% in the second quarter. GSA Capital Partners LLP now owns 18,068 shares of the company’s stock worth $125,000 after buying an additional 5,700 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Calix during the second quarter worth about $191,000. Bank of Montreal Can purchased a new stake in Calix during the second quarter worth about $201,000. Panagora Asset Management Inc. boosted its stake in Calix by 38.3% in the second quarter. Panagora Asset Management Inc. now owns 49,774 shares of the company’s stock worth $344,000 after buying an additional 13,793 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in Calix by 43.0% in the second quarter. First Midwest Bank Trust Division now owns 56,432 shares of the company’s stock worth $390,000 after buying an additional 16,962 shares during the last quarter. 66.10% of the stock is owned by hedge funds and other institutional investors.
Calix Company Profile
Calix, Inc is a provider of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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