Zacks Investment Research Lowers Calix Inc. (CALX) to Sell
Calix Inc. (NYSE:CALX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
Several other equities research analysts have also recently commented on the company. TheStreet raised Calix from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Morgan Stanley set a $9.00 price target on Calix and gave the company a “hold” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Calix has an average rating of “Hold” and an average target price of $8.82.
Shares of Calix (NYSE:CALX) traded up 1.69% during mid-day trading on Monday, reaching $7.21. The company’s stock had a trading volume of 63,712 shares. The company’s 50-day moving average price is $7.32 and its 200-day moving average price is $7.16. Calix has a 12-month low of $5.64 and a 12-month high of $9.07. The stock’s market capitalization is $351.72 million.
Calix (NYSE:CALX) last released its earnings results on Tuesday, August 2nd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $107.40 million for the quarter, compared to the consensus estimate of $106.20 million. Calix had a negative return on equity of 4.88% and a negative net margin of 5.95%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. On average, equities research analysts forecast that Calix will post ($0.06) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Calix by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 3,325,466 shares of the company’s stock valued at $22,979,000 after buying an additional 679,219 shares during the period. Dimensional Fund Advisors LP boosted its stake in Calix by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,790,251 shares of the company’s stock valued at $19,280,000 after buying an additional 228,161 shares during the period. Renaissance Technologies LLC boosted its stake in Calix by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,994,300 shares of the company’s stock valued at $14,140,000 after buying an additional 205,400 shares during the period. Lapides Asset Management LLC boosted its stake in Calix by 5.5% in the second quarter. Lapides Asset Management LLC now owns 2,798,000 shares of the company’s stock valued at $19,334,000 after buying an additional 146,800 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Calix during the second quarter valued at about $966,000. 66.10% of the stock is owned by institutional investors.
Calix, Inc is a provider of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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