Casa Systems (NASDAQ:CASA) Downgraded by Raymond James

Raymond James downgraded shares of Casa Systems (NASDAQ:CASA) from a market perform rating to an underperform rating in a research note published on Tuesday, BenzingaRatingsTable reports.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Casa Systems from a hold rating to a buy rating and set a $7.50 target price on the stock in a research report on Tuesday, July 16th. Morgan Stanley decreased their target price on shares of 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. Finally, ValuEngine upgraded shares of Casa Systems from a sell rating to a hold rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Casa Systems presently has an average rating of Hold and an average target price of $13.94.

Shares of NASDAQ CASA traded down $0.42 during mid-day trading on Tuesday, reaching $7.19. 23,391 shares of the company were exchanged, compared to its average volume of 229,177. Casa Systems has a 52 week low of $5.46 and a 52 week high of $16.75. The company has a quick ratio of 4.23, a current ratio of 5.12 and a debt-to-equity ratio of 4.47. The stock has a market cap of $614.79 million, a PE ratio of 9.03 and a beta of 0.75. The stock has a 50 day moving average of $6.46.

Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $49.59 million. Casa Systems had a net margin of 16.38% and a return on equity of 51.33%. The firm’s revenue was down 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS.

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP increased its position in shares of Casa Systems by 144.8% in the first quarter. Royce & Associates LP now owns 4,871 shares of the company’s stock valued at $40,000 after acquiring an additional 2,881 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Casa Systems by 609.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,213 shares of the company’s stock valued at $52,000 after acquiring an additional 5,337 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Casa Systems in the fourth quarter valued at about $79,000. Marshall Wace North America L.P. purchased a new position in shares of Casa Systems in the first quarter valued at about $75,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Casa Systems by 356.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,129 shares of the company’s stock valued at $120,000 after acquiring an additional 7,130 shares during the period. Hedge funds and other institutional investors own 67.34% 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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Analyst Recommendations for Casa Systems (NASDAQ:CASA)

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