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

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

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

Calix Trading Up 0.8 %

Shares of Calix stock opened at $28.25 on Thursday. The company has a fifty day moving average price of $33.04 and a 200 day moving average price of $37.45. Calix has a twelve month low of $26.76 and a twelve month high of $53.90. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.65%. The firm had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts forecast that Calix will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TD Asset Management Inc grew its position in Calix by 516.6% in the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after purchasing an additional 1,349,625 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Calix by 213.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after purchasing an additional 643,392 shares during the last quarter. Norges Bank acquired a new stake in Calix in the 4th quarter worth $26,483,000. Artisan Partners Limited Partnership grew its position in Calix by 106.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,074,175 shares of the communications equipment provider’s stock worth $49,240,000 after purchasing an additional 554,003 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Calix in the 4th quarter worth $18,165,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.