Calix (NYSE:CALX) Stock Rating Reaffirmed by Needham & Company LLC

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $50.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 69.84% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities lowered their price target on shares of Calix from $57.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $54.60.

Calix Price Performance

NYSE:CALX opened at $29.44 on Wednesday. The stock has a market cap of $1.93 billion, a P/E ratio of 65.42 and a beta of 1.65. The company has a fifty day moving average price of $33.48 and a 200 day moving average price of $37.92. Calix has a one year low of $28.95 and a one year high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. The business’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 EPS. As a group, equities research analysts anticipate that Calix will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Calix

Large investors have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. acquired a new position in Calix during the 4th quarter worth about $45,000. Altshuler Shaham Ltd acquired a new position in Calix during the 4th quarter worth about $54,000. Captrust Financial Advisors lifted its position in Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 204 shares in the last quarter. Natixis acquired a new position in Calix during the 4th quarter worth about $60,000. Finally, Quarry LP lifted its position in Calix by 483.2% during the 1st quarter. Quarry LP now owns 974 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 807 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

About Calix

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.