Casa Systems Inc (CASA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Casa Systems Inc (NASDAQ:CASA) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.14.

A number of research firms have commented on CASA. Stifel Nicolaus began coverage on Casa Systems in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $18.00 price target for the company. Zacks Investment Research upgraded Casa Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. 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 objective on Casa Systems and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley reduced their price objective 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.

Several large investors have recently made changes to their positions in CASA. Wells Fargo & Company MN purchased a new position in shares of Casa Systems in the first quarter worth about $474,000. Northern Trust Corp purchased a new position in shares of Casa Systems in the first quarter worth about $6,184,000. BlackRock Inc. purchased a new position in shares of Casa Systems in the first quarter worth about $42,491,000. UBS Group AG purchased a new position in shares of Casa Systems in the first quarter worth about $617,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Casa Systems in the first quarter worth about $223,000. Hedge funds and other institutional investors own 61.23% of the company’s stock.

Casa Systems stock traded down $0.24 during midday trading on Monday, reaching $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 debt-to-equity ratio of 2.74, a quick ratio of 5.13 and a current ratio of 5.54. Casa Systems has a 52-week low of $11.26 and a 52-week high of $34.21. The stock has a market cap of $1.36 billion and a PE ratio of 19.95.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. Casa Systems had a return on equity of 112.41% and a net margin of 17.93%. The company had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $75.88 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was down 24.1% compared to the same quarter last year. As a group, sell-side analysts predict that Casa Systems will post 0.74 EPS for the current fiscal 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.

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Analyst Recommendations for Casa Systems (NASDAQ:CASA)

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