Casa Systems (CASA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Casa Systems (NASDAQ:CASA) from a hold rating to a sell rating in a research note published on Tuesday.

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. “

CASA has been the topic of several other reports. William Blair cut shares of Casa Systems from an outperform rating to a market perform rating in a research report on Friday, February 22nd. Needham & Company LLC began coverage on shares of Casa Systems in a research report on Sunday, December 9th. They issued a buy rating and a $15.08 price objective on the stock. Morgan Stanley lowered shares of Casa Systems from an overweight rating to an equal weight rating and lowered their price target for the company from $18.00 to $11.00 in a research note on Friday, January 18th. ValuEngine lowered shares of Casa Systems from a hold rating to a sell rating in a research note on Monday, February 4th. Finally, Raymond James lowered shares of Casa Systems from an outperform rating to a market perform rating in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $16.14.

CASA opened at $9.00 on Tuesday. The firm has a market capitalization of $774.77 million, a P/E ratio of 11.25 and a beta of -0.46. Casa Systems has a 12 month low of $8.98 and a 12 month high of $34.21. The company has a current ratio of 4.69, a quick ratio of 4.11 and a debt-to-equity ratio of 3.92.

Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $65.93 million. Casa Systems had a net margin of 24.57% and a return on equity of 86.77%. As a group, equities analysts forecast that Casa Systems will post 0.23 EPS for the current year.

A number of hedge funds have recently modified their holdings of CASA. Victory Capital Management Inc. acquired a new stake in Casa Systems in the 3rd quarter valued at $194,000. Wells Fargo & Company MN increased its stake in Casa Systems by 103.3% in the 3rd quarter. Wells Fargo & Company MN now owns 21,748 shares of the company’s stock valued at $321,000 after buying an additional 11,050 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Casa Systems by 215.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,901 shares of the company’s stock valued at $308,000 after buying an additional 14,271 shares during the last quarter. Rhumbline Advisers increased its stake in Casa Systems by 57.4% in the 3rd quarter. Rhumbline Advisers now owns 20,532 shares of the company’s stock valued at $303,000 after buying an additional 7,485 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Casa Systems by 124.9% in the 3rd quarter. Janus Henderson Group PLC now owns 28,331 shares of the company’s stock valued at $418,000 after buying an additional 15,732 shares during the last quarter. Hedge funds and other institutional investors own 64.11% 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.

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