Calix (NYSE:CALX – Get Note) had its price target raised by equity analysts Rosenblatt Securities from $75.00 to $85.00 in a research report released Wednesday to clients and investors, reports The Fly. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 19.05% from the company’s current price.
CALX has been the subject of several other reports. Craig Hallum raised his price target on Calix from $62.00 to $69.00 and gave the company an “outperform” rating in a Wednesday, July 27 research note. Cowen raised its target price on Calix from $71.00 to $90.00 in a report released on Wednesday. Northland Securities raised its target price on Calix from $55.00 to $65.00 in a Tuesday, September 6 report. Cowen raised its price target on Calix from $48.00 to $71.00 and gave the stock an “outperform” rating in a Wednesday, July 27 report. Finally, StockNews.com began covering Calix in a report on Wednesday, October 12. They have set a “holding” rating on the stock. One research analyst gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.60.
Stock Calix up 18.3%
NYSE CALX shares opened at $71.40 on Wednesday. The stock has a market capitalization of $4.66 billion, a PE ratio of 100.56 and a beta of 1.69. Calix has a 52-week low of $31.59 and a 52-week high of $80.95. The company has a 50-day moving average price of $58.94 and a 200-day moving average price of $47.13.
Calix (NYSE:CALX – Get Rating) last released its quarterly earnings data on Monday, October 24. The communications equipment provider reported EPS of $0.34 for the quarter, beating the consensus estimate of $0.23 by $0.11. The company posted revenue of $236.33 million in the quarter, compared to a consensus estimate of $215.25 million. Calix had a return on equity of 8.02% and a net margin of 28.95%. The company’s revenue increased by 37.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.25. Sell-side analysts expect Calix to post earnings per share of 0.31 for the current year.
Insider buying and selling at Calix
In other Calix news, Executive Vice President John Matthew Collins sold 5,000 shares of the company in a trade dated Wednesday, August 3. The stock was sold at an average price of $58.31, for a total value of $291,550.00. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, manager Michael Matthews sold 6,000 shares of Calix in a trade dated Thursday, July 28. The stock was sold at an average price of $55.70, for a total transaction of $334,200.00. Following the sale, the director now directly owns 66,000 shares of the company, valued at $3,676,200. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, Executive Vice President John Matthew Collins sold 5,000 shares of Calix in a trade dated Wednesday, August 3. The stock was sold at an average price of $58.31, for a total value of $291,550.00. The disclosure of this sale can be found here. Insiders have sold 76,000 shares of the company valued at $4,394,050 in the past three months. 16.56% of the shares are held by insiders of the company.
Calix Institutional Trading
A number of hedge funds and other institutional investors have recently changed their holdings in CALX. Captrust Financial Advisors increased its position in Calix shares by 31.7% during the second quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider worth $29,000 after acquiring 204 more shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Calix by 865.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,390 shares of the communications equipment provider worth $59,000 after buying 1,246 additional shares last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Calix in the first quarter worth approximately $61,000. Dark Forest Capital Management LP increased its stake in Calix by 43.4% in the second quarter. Dark Forest Capital Management LP now owns 1,916 shares of the communications equipment provider worth $65,000 after buying an additional 580 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in Calix by 34.7% in the first quarter. Point72 Hong Kong Ltd now owns 1,866 shares of the communications equipment supplier worth $80,000 after buying 481 additional shares in the last quarter. 81.28% of the shares are held by hedge funds and other institutional investors.
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Calix, Inc, together with its subsidiaries, provides cloud and software platforms, as well as systems and services in the United States, the rest of the Americas, Europe, the Middle East, Africa and Asia-Pacific . The company’s cloud and software platforms, systems and services enable broadband service providers (BSPs) to deliver a range of services.
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