Rosenblatt Securities Boosts Calix (NYSE:CALX) Price Target to $52.00

Calix (NYSE:CALX - Get Free Report) had its price objective lifted by investment analysts at Rosenblatt Securities from $51.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the communications equipment provider's stock. Rosenblatt Securities' price target points to a potential upside of 38.41% from the company's previous close.

Several other analysts have also commented on CALX. Needham & Company LLC reissued a "buy" rating and set a $53.00 price target on shares of Calix in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Calix from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Roth Capital set a $50.00 price objective on Calix and gave the company a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Calix has a consensus rating of "Moderate Buy" and an average price target of $44.71.

Calix Price Performance

Shares of CALX stock opened at $37.57 on Wednesday. The company has a market capitalization of $2.50 billion, a P/E ratio of -83.48 and a beta of 1.75. The company's 50-day simple moving average is $35.04 and its two-hundred day simple moving average is $35.79. Calix has a one year low of $26.76 and a one year high of $42.50.

Calix (NYSE:CALX - Get Free Report) last issued its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same period in the prior year, the business earned $0.21 EPS. On average, research analysts expect that Calix will post -0.43 EPS for the current fiscal year.

Calix declared that its board has initiated a stock repurchase plan on Monday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is currently owned by company insiders.

Institutional Trading of Calix

Several large investors have recently made changes to their positions in CALX. Smartleaf Asset Management LLC raised its stake in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after buying an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its position in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. Quantbot Technologies LP acquired a new position in Calix in the fourth quarter valued at approximately $84,000. KBC Group NV boosted its position in Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Calix during the 4th quarter worth approximately $208,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.