Calix, Inc. (NYSE:CALX – Get Free Report) shares reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $51.00 to $42.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Calix traded as low as $32.42 and last traded at $33.23, with a volume of 1968324 shares traded. The stock had previously closed at $34.80.
A number of other analysts also recently commented on CALX. StockNews.com assumed coverage on Calix in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Roth Mkm dropped their price objective on Calix from $66.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities dropped their price objective on Calix from $70.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 target price on shares of Calix in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.40.
View Our Latest Report on CALX
Insider Transactions at Calix
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in Calix by 51.8% during the second quarter. Pacer Advisors Inc. now owns 12,144 shares of the communications equipment provider’s stock valued at $606,000 after buying an additional 4,146 shares during the period. AE Wealth Management LLC grew its stake in Calix by 14.6% in the second quarter. AE Wealth Management LLC now owns 12,418 shares of the communications equipment provider’s stock valued at $620,000 after purchasing an additional 1,578 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Calix by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 313,600 shares of the communications equipment provider’s stock valued at $16,806,000 after purchasing an additional 30,037 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new position in Calix in the first quarter valued at about $751,000. Finally, Pier Capital LLC grew its stake in Calix by 53.2% in the first quarter. Pier Capital LLC now owns 146,105 shares of the communications equipment provider’s stock valued at $7,830,000 after purchasing an additional 50,737 shares in the last quarter. 81.35% of the stock is owned by institutional investors and hedge funds.
Calix Price Performance
The business has a 50 day simple moving average of $44.17 and a 200 day simple moving average of $46.08. The stock has a market cap of $2.21 billion, a PE ratio of 48.97 and a beta of 1.52.
Calix (NYSE:CALX – Get Free Report) last issued its earnings results on Tuesday, October 24th. The communications equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $263.80 million for the quarter, compared to the consensus estimate of $263.23 million. Calix had a return on equity of 7.18% and a net margin of 4.69%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, sell-side analysts forecast that Calix, Inc. will post 0.57 earnings per share for the current fiscal year.
About Calix
Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.
Featured Stories
- Five stocks we like better than Calix
- What Does the Consumer Price Index Measure?
- The top 3 stocks insiders are selling, but you shouldn’t
- How to Invest in Blue Chip Stocks
- Spirit AeroSystems Goes Airborne After Inking a Boeing Deal
- The How And Why of Investing in Oil Stocks
- Simon Property Group’s 7.2% Dividend Has Insiders Buying In Bulk
Receive News & Ratings for Calix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calix and related companies with MarketBeat.com's FREE daily email newsletter.
