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

Calix (NYSE:CALX) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, FinViz reports. They currently have a $30.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $48.00. Jefferies Financial Group’s price target indicates a potential upside of 6.19% from the company’s current price.

A number of other brokerages have also issued reports on CALX. Rosenblatt Securities dropped their price objective on shares of Calix from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Calix in a report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Calix in a report on Tuesday. StockNews.com lowered shares of Calix from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Craig Hallum dropped their price objective on shares of Calix from $48.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.33.

Calix Trading Up 0.8 %

CALX stock opened at $28.25 on Thursday. The stock has a market capitalization of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65. Calix has a 12 month low of $26.76 and a 12 month high of $53.90. The firm has a 50-day moving average price of $33.04 and a 200-day moving average price of $37.45.

Calix (NYSE:CALX) last posted 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. The firm had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, equities analysts predict that Calix will post 0.45 EPS for the current fiscal year.

Institutional Trading of Calix

Several large investors have recently modified their holdings of CALX. Los Angeles Capital Management LLC grew its position in Calix by 4.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,224 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 314 shares during the period. Panagora Asset Management Inc. grew its position in Calix by 0.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 103,223 shares of the communications equipment provider’s stock valued at $4,732,000 after purchasing an additional 339 shares during the period. Inspire Investing LLC grew its position in Calix by 5.5% in the 3rd quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock valued at $304,000 after purchasing an additional 348 shares during the period. Quadrant Capital Group LLC grew its position in Calix by 18.5% in 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, Alliance Wealth Advisors LLC UT grew its position in Calix by 4.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,780 shares of the communications equipment provider’s stock valued at $384,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds 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.