ValuEngine Upgrades Calix (CALX) to “Hold”
Calix (NYSE:CALX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Other research analysts have also issued research reports about the company. Northland Securities set a $7.00 price target on Calix and gave the stock a “hold” rating in a research report on Monday, August 7th. BidaskClub lowered Calix from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Zacks Investment Research lowered Calix from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Jefferies Group reissued a “hold” rating and set a $7.00 target price on shares of Calix in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.50.
Calix (NYSE CALX) traded up $0.15 during trading hours on Friday, hitting $6.75. The company’s stock had a trading volume of 356,134 shares, compared to its average volume of 219,210. Calix has a 52-week low of $4.65 and a 52-week high of $8.10.
Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, November 7th. The communications equipment provider reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.04). The company had revenue of $128.80 million for the quarter, compared to analyst estimates of $127.92 million. Calix had a negative return on equity of 43.76% and a negative net margin of 16.19%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. sell-side analysts forecast that Calix will post -1.52 earnings per share for the current fiscal year.
In other Calix news, CFO Cory Sindelar bought 5,974 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were acquired at an average cost of $6.95 per share, with a total value of $41,519.30. Following the acquisition, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $104,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.50% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of CALX. Divisar Capital Management LLC increased its holdings in shares of Calix by 479.1% during the 2nd quarter. Divisar Capital Management LLC now owns 1,073,236 shares of the communications equipment provider’s stock worth $7,352,000 after acquiring an additional 887,915 shares during the last quarter. Lapides Asset Management LLC increased its holdings in shares of Calix by 11.0% during the 3rd quarter. Lapides Asset Management LLC now owns 3,248,000 shares of the communications equipment provider’s stock worth $16,402,000 after acquiring an additional 321,400 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Calix by 8.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,626,018 shares of the communications equipment provider’s stock worth $17,988,000 after acquiring an additional 214,418 shares during the last quarter. FMR LLC increased its holdings in shares of Calix by 120.3% during the 1st quarter. FMR LLC now owns 220,731 shares of the communications equipment provider’s stock worth $1,600,000 after acquiring an additional 120,531 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Calix by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,459,000 shares of the communications equipment provider’s stock worth $23,694,000 after acquiring an additional 115,818 shares during the last quarter. 67.08% of the stock is currently owned by institutional investors and hedge funds.
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Calix, Inc provides 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 various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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