Jefferies Financial Group Downgrades Calix (NYSE:CALX) to Hold

Calix (NYSE:CALX) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $30.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $48.00. Jefferies Financial Group’s price target indicates a potential upside of 5.60% from the company’s previous close.

A number of other brokerages have also commented on CALX. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Calix in a research note on Tuesday. Craig Hallum lowered their target price on Calix from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a research note on Wednesday. Rosenblatt Securities decreased 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 reaffirmed a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.33.

Calix Trading Up 0.6 %

NYSE:CALX opened at $28.41 on Thursday. The stock has a market capitalization of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65. Calix has a 1-year low of $26.76 and a 1-year high of $53.90. The firm has a fifty day simple moving average of $32.79 and a 200 day simple moving average of $37.27.

Calix (NYSE:CALX) last issued its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.64%. The company had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same period in the prior year, the firm earned $0.18 EPS. Calix’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System raised its position in Calix by 1.5% in the first quarter. New York State Teachers Retirement System now owns 61,300 shares of the communications equipment provider’s stock valued at $2,033,000 after purchasing an additional 903 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Calix by 175.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 607,001 shares of the communications equipment provider’s stock valued at $20,128,000 after buying an additional 386,318 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Calix by 75.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the communications equipment provider’s stock valued at $962,000 after buying an additional 12,500 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in Calix during the 1st quarter worth approximately $700,000. Finally, Norden Group LLC grew its holdings in Calix by 1,634.9% during the 1st quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock worth $4,752,000 after acquiring an additional 135,039 shares during 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.