Calix (NYSE:CALX) Earns “Buy” Rating from Needham & Company LLC

Calix (NYSE:CALX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $50.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 69.26% from the stock’s previous close.

Several other analysts have also commented on CALX. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities dropped their price objective on Calix from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Roth Mkm reissued a “buy” rating and issued a $50.00 price objective on shares of Calix in a report on Monday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Calix Stock Up 0.9 %

Shares of NYSE:CALX opened at $29.54 on Tuesday. Calix has a 52-week low of $28.95 and a 52-week high of $53.90. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 65.65 and a beta of 1.65. The business has a 50-day moving average price of $33.27 and a 200-day moving average price of $37.62.

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, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. Calix had a return on equity of 7.92% and a net margin of 3.06%. Calix’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts anticipate that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently modified their holdings of CALX. TFO Wealth Partners LLC raised its holdings in shares of Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after buying an additional 1,011 shares during the period. Assetmark Inc. raised its holdings in shares of Calix by 31.9% in the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 382 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 348 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Calix during the 3rd quarter worth $111,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.