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

Jefferies Financial Group lowered shares of Calix (NYSE:CALX) from a buy rating to a hold rating in a research report released on Thursday, Marketbeat Ratings reports. The brokerage currently has $30.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $48.00.

Several other analysts have also recently weighed in on CALX. Rosenblatt Securities decreased their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Craig Hallum decreased their price objective on shares of Calix from $48.00 to $41.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Needham & Company LLC reaffirmed a buy rating and set a $50.00 price objective on shares of Calix in a research note on Tuesday, April 23rd. StockNews.com cut shares of Calix from a hold rating to a sell rating in a research note on Wednesday, April 24th. Finally, Roth Mkm reaffirmed a buy rating and set a $50.00 price objective on shares of Calix in a research note on Monday, April 22nd. One 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’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $41.33.

Calix Stock Performance

Shares of CALX opened at $28.40 on Thursday. The company has a 50-day simple moving average of $32.79 and a 200-day simple moving average of $37.15. The firm has a market capitalization of $1.86 billion, a P/E ratio of 91.61 and a beta of 1.65. Calix has a 52 week low of $26.76 and a 52 week high of $53.90.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.64%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, equities 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 modified their holdings of CALX. TFO Wealth Partners LLC raised its stake in 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 worth $49,000 after purchasing an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in 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 worth $70,000 after purchasing an additional 1,011 shares in the last quarter. Assetmark Inc. raised its stake in Calix by 31.9% in the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after purchasing an additional 382 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 348 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Calix in the 3rd quarter valued at approximately $111,000. 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.