Rosenblatt Securities Reaffirms “Buy” Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $55.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities‘s target price suggests a potential upside of 64.95% from the company’s previous close.

A number of other research firms have also recently issued reports on CALX. Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Northland Securities raised Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a research note on Tuesday, July 21st. Weiss Ratings downgraded Calix from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, October 26th. JPMorgan Chase & Co. cut their price objective on shares of Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Calix has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.

Calix Stock Performance

Calix stock opened at $33.34 on Wednesday. The firm has a market cap of $2.10 billion, a PE ratio of 49.03 and a beta of 1.21. The firm’s 50 day moving average price is $35.99 and its two-hundred day moving average price is $42.46. Calix has a twelve month low of $32.35 and a twelve month high of $68.18.

Calix (NYSE:CALX) last issued its earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Calix had a net margin of 3.99% and a return on equity of 5.53%. The company had revenue of $301.71 million during the quarter, compared to analyst estimates of $304.23 million. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts anticipate that Calix will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CALX. Covestor Ltd lifted its position in shares of Calix by 85.4% during the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 666 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Calix during the 3rd quarter valued at $235,000. Summit Global Investments raised its stake in Calix by 125.5% during the 3rd quarter. Summit Global Investments now owns 36,825 shares of the communications equipment provider’s stock valued at $1,265,000 after purchasing an additional 20,497 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Calix by 72.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 75,983 shares of the communications equipment provider’s stock valued at $2,611,000 after purchasing an additional 32,000 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in Calix by 254.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 630 shares during the period. Institutional investors own 98.14% of the company’s stock.

Key Stories Impacting Calix

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Calix reported Q3 adjusted EPS of $0.44, above the $0.42 consensus estimate. Revenue increased 13.7% year over year, indicating continued growth. Calix Q3 Earnings Beat Estimates
• Positive Sentiment: Q4 EPS guidance of $0.41–$0.49 is above analysts’ $0.40 estimate, suggesting the company expects earnings to improve. Calix Q3 Revenue Rises; Issues Q4 Guidance
• Neutral Sentiment: Q4 revenue guidance of $311 million–$317 million brackets the $314.5 million consensus, while full-year revenue guidance of $1.2 billion matches expectations. Calix Q3 Revenue Rises; Issues Q4 Guidance
• Negative Sentiment: Q3 revenue of $301.7 million missed the $304.2 million analyst estimate, and EPS was unchanged from a year earlier. The revenue miss tempers the earnings beat. Calix Stock Drops After Q3 Results Expose Profit Pressure
• Negative Sentiment: Coverage of the earnings call highlighted margin pressure, and separate commentary characterized the stock as still overvalued despite its prior decline—risks that may weigh on investor sentiment. Calix Earnings Call Signals Growth Despite Margin Pressures

About Calix

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.