Casa Systems (CASA) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Casa Systems (NASDAQ:CASA) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Casa Systems, Inc. develops and provides digital cable video and broadband services. It offers fixed, mobile, optical and wireless network solutions for ultra-broadband services, carrier-grade solutions to cable service providers and cable network access solutions which incorporate RF engineering, high-density access aggregation, software innovation and extreme subscriber management capabilities. Casa Systems, Inc. is headquartered in Andover, MA. “

Several other equities research analysts have also commented on the company. Loop Capital upgraded Casa Systems from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Friday, August 24th. Northland Securities set a $17.00 price target on Casa Systems and gave the stock a buy rating in a research note on Wednesday, August 15th. Morgan Stanley dropped their price target on Casa Systems from $23.00 to $18.00 and set a buy rating for the company in a research note on Thursday, August 16th. Finally, Macquarie lowered Casa Systems from an outperform rating to a neutral rating and set a $24.00 price target for the company. in a research note on Wednesday, August 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Casa Systems has a consensus rating of Buy and a consensus target price of $23.38.

Casa Systems stock opened at $14.01 on Friday. The firm has a market capitalization of $1.27 billion and a P/E ratio of 17.73. The company has a quick ratio of 5.13, a current ratio of 5.54 and a debt-to-equity ratio of 2.74. Casa Systems has a 52 week low of $11.26 and a 52 week high of $34.21.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $68.70 million for the quarter, compared to analyst estimates of $90.64 million. The business’s revenue was up 3.2% compared to the same quarter last year. Research analysts predict that Casa Systems will post 0.73 EPS for the current year.

Large investors have recently made changes to their positions in the business. New York State Common Retirement Fund acquired a new stake in shares of Casa Systems in the first quarter valued at about $111,000. American International Group Inc. acquired a new stake in shares of Casa Systems in the first quarter valued at about $131,000. Columbia Partners L L C Investment Management acquired a new stake in shares of Casa Systems in the second quarter valued at about $163,000. Rhumbline Advisers acquired a new stake in shares of Casa Systems in the second quarter valued at about $213,000. Finally, HPM Partners LLC acquired a new stake in shares of Casa Systems in the second quarter valued at about $213,000. Institutional investors own 60.74% of the company’s stock.

Casa Systems Company Profile

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers software-centric infrastructure solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

Further Reading: Asset Allocation

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