Calix (NYSE:CALX) Shares Gap Down Following Analyst Downgrade

Calix, Inc. (NYSE:CALX)’s share price gapped down prior to trading on Tuesday after Rosenblatt Securities lowered their price target on the stock from $45.00 to $35.00. The stock had previously closed at $29.56, but opened at $26.80. Rosenblatt Securities currently has a buy rating on the stock. Calix shares last traded at $29.63, with a volume of 518,765 shares trading hands.

A number of other analysts have also commented on CALX. Roth Mkm reissued a “buy” rating and set a $50.00 price objective on shares of Calix in a report on Monday. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Calix in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Hedge Funds Weigh In On Calix

Several institutional investors and hedge funds have recently bought and sold shares of the company. TFO Wealth Partners LLC boosted its holdings in shares of Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Calix by 194.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 1,011 shares during the last quarter. Assetmark Inc. grew its stake in shares of Calix by 31.9% in the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after purchasing an additional 382 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Calix by 18.5% during the 4th 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, DekaBank Deutsche Girozentrale bought a new stake in Calix during the 3rd quarter valued at approximately $111,000. 98.14% of the stock is owned by institutional investors.

Calix Stock Performance

The company has a 50-day simple moving average of $33.27 and a two-hundred day simple moving average of $37.62. The firm has a market capitalization of $1.85 billion, a P/E ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last issued its quarterly 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. Calix had a return on equity of 7.92% and a net margin of 3.06%. The firm had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Calix, Inc. will post 0.45 earnings per share for the current fiscal year.

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.