Calix (NYSE:CALX) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Calix (NYSE:CALX) from a strong-buy rating to a buy rating in a research report released on Sunday morning,Wall Street Zen reports.

Several other analysts also recently commented on CALX. JPMorgan Chase & Co. dropped their price objective on shares of Calix from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. Rosenblatt Securities reissued a “buy” rating and set a $55.00 target price on shares of Calix in a report on Wednesday, November 4th. Roth Capital reissued a “buy” rating on shares of Calix in a report on Tuesday, July 21st. Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, October 26th. Finally, Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.80.

Calix Stock Up 0.2%

Calix stock opened at $32.21 on Friday. Calix has a 52 week low of $30.55 and a 52 week high of $64.33. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 47.37 and a beta of 1.21. The stock has a 50-day moving average price of $35.37 and a 200 day moving average price of $41.83.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Calix had a net margin of 3.99% and a return on equity of 5.67%. The company had revenue of $301.71 million for the quarter, compared to the consensus estimate of $304.23 million. During the same quarter in the prior year, the company earned $0.44 EPS. Calix’s quarterly revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Calix will post 0.85 EPS for the current fiscal year.

Insider Activity at Calix

In other news, Director Carl Russo sold 75,000 shares of Calix stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $31.07, for a total transaction of $2,330,250.00. Following the completion of the transaction, the director directly owned 1,494,188 shares of the company’s stock, valued at $46,424,421.16. The trade was a 4.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by insiders.

Institutional Trading of Calix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. BlackRock Inc. acquired a new position in shares of Calix in the second quarter worth about $439,461,000. Dimensional Fund Advisors LP grew its position in shares of Calix by 28.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider’s stock valued at $59,699,000 after acquiring an additional 269,876 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of Calix by 14.2% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 768,200 shares of the communications equipment provider’s stock valued at $37,634,000 after purchasing an additional 95,800 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Calix by 63.3% in the 1st quarter. Bank of America Corp DE now owns 750,117 shares of the communications equipment provider’s stock valued at $36,748,000 after purchasing an additional 290,661 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Calix in the 3rd quarter valued at about $32,090,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

About Calix

Calix, Inc. provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers. The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.