Calix Inc. (NYSE:CALX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
A number of other research firms have also issued reports on CALX. TheStreet raised Calix from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Morgan Stanley set a $9.00 target price on Calix and gave the company a “hold” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $8.82.
Calix (NYSE:CALX) traded up 1.69% on Monday, hitting $7.21. The stock had a trading volume of 63,712 shares. Calix has a one year low of $5.64 and a one year high of $9.07. The firm’s market cap is $351.72 million. The company’s 50-day moving average price is $7.32 and its 200 day moving average price is $7.16.
Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The business had revenue of $107.40 million for the quarter, compared to analyst estimates of $106.20 million. Calix had a negative return on equity of 4.88% and a negative net margin of 5.95%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. Analysts expect that Calix will post ($0.06) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of CALX. Ameriprise Financial Inc. increased its position in shares of Calix by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 3,325,466 shares of the company’s stock valued at $22,979,000 after buying an additional 679,219 shares during the period. Vanguard Group Inc. increased its position in shares of Calix by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,051,748 shares of the company’s stock valued at $21,087,000 after buying an additional 10,176 shares during the period. Lapides Asset Management LLC increased its position in shares of Calix by 5.5% in the second quarter. Lapides Asset Management LLC now owns 2,798,000 shares of the company’s stock valued at $19,334,000 after buying an additional 146,800 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Calix by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,790,251 shares of the company’s stock valued at $19,280,000 after buying an additional 228,161 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Calix by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,994,300 shares of the company’s stock valued at $14,140,000 after buying an additional 205,400 shares during the period. Institutional investors own 66.10% of the company’s stock.
Calix, Inc is a provider of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Calix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.