Shares of Casa Systems Inc (NASDAQ:CASA) have received an average rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.14.
Several equities analysts have commented on the company. Zacks Investment Research raised Casa Systems from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Loop Capital assumed coverage on Casa Systems in a research report on Wednesday, July 25th. They issued a “hold” rating and a $16.00 price objective on the stock. Macquarie downgraded Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, August 15th. Finally, Stifel Nicolaus assumed coverage on Casa Systems in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $18.00 price objective on the stock.
Several institutional investors and hedge funds have recently bought and sold shares of CASA. Wells Fargo & Company MN bought a new position in shares of Casa Systems during the 1st quarter worth $474,000. Northern Trust Corp bought a new position in shares of Casa Systems during the 1st quarter worth $6,184,000. BlackRock Inc. bought a new position in shares of Casa Systems during the 1st quarter worth $42,491,000. UBS Group AG bought a new position in shares of Casa Systems during the 1st quarter worth $617,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Casa Systems during the 1st quarter worth $223,000. 61.23% of the stock is currently owned by institutional investors and hedge funds.
Casa Systems stock traded down $0.24 during mid-day trading on Monday, hitting $15.76. The company’s stock had a trading volume of 491,413 shares, compared to its average volume of 470,096. The company has a market capitalization of $1.36 billion and a PE ratio of 19.95. 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 one year low of $11.26 and a one year high of $34.21.
Casa Systems (NASDAQ:CASA) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.08. The company had revenue of $71.50 million for the quarter, compared to the consensus estimate of $75.88 million. Casa Systems had a return on equity of 112.41% and a net margin of 17.93%. Casa Systems’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. As a group, research analysts anticipate that Casa Systems will post 0.74 earnings per share for the current year.
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: Understanding Analyst Ratings
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