Casa Systems (NASDAQ:CASA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Casa Systems (NASDAQ:CASA) from a hold rating to a strong sell rating in a report released on Wednesday, Zacks.com reports.

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. “

A number of other equities research analysts also recently issued reports on CASA. Morgan Stanley decreased their price objective on Casa Systems from $11.00 to $7.00 and set an equal weight rating on the stock in a research report on Thursday, July 11th. Northland Securities downgraded Casa Systems from an outperform rating to a market perform rating and set a $7.00 price objective on the stock. in a research report on Friday, November 1st. Raymond James downgraded Casa Systems from a market perform rating to an underperform rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a hold rating on shares of Casa Systems in a research report on Friday, November 1st. Finally, Barclays restated a hold rating and set a $7.00 price objective on shares of Casa Systems in a research report on Sunday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Casa Systems presently has a consensus rating of Hold and an average price target of $9.93.

Shares of CASA traded down $0.12 during trading hours on Wednesday, hitting $3.53. The stock had a trading volume of 352,100 shares, compared to its average volume of 389,089. The company has a debt-to-equity ratio of 4.20, a current ratio of 6.25 and a quick ratio of 5.02. The firm has a market capitalization of $329.45 million, a PE ratio of 4.41 and a beta of 0.87. Casa Systems has a 12 month low of $3.47 and a 12 month high of $16.42. The stock has a fifty day moving average price of $6.43 and a 200 day moving average price of $6.62.

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Casa Systems (NASDAQ:CASA) last posted its earnings results on Thursday, October 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). The firm had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $108.08 million. Casa Systems had a positive return on equity of 0.01% and a negative net margin of 3.22%. Casa Systems’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, analysts anticipate that Casa Systems will post -0.28 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of CASA. Marshall Wace North America L.P. purchased a new stake in Casa Systems during the first quarter valued at approximately $75,000. First Trust Advisors LP grew its stake in shares of Casa Systems by 159.9% during the first quarter. First Trust Advisors LP now owns 136,056 shares of the company’s stock valued at $1,129,000 after buying an additional 83,713 shares during the last quarter. Peregrine Capital Management LLC grew its stake in shares of Casa Systems by 71.4% during the second quarter. Peregrine Capital Management LLC now owns 969,918 shares of the company’s stock valued at $6,237,000 after buying an additional 404,079 shares during the last quarter. Capital Impact Advisors LLC grew its stake in shares of Casa Systems by 32.7% during the second quarter. Capital Impact Advisors LLC now owns 141,832 shares of the company’s stock valued at $919,000 after buying an additional 34,924 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Casa Systems by 40.1% during the second quarter. JPMorgan Chase & Co. now owns 16,595 shares of the company’s stock valued at $107,000 after buying an additional 4,753 shares during the last quarter. Institutional investors and hedge funds own 67.96% 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 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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