Casa Systems Inc (NASDAQ:CASA) has been assigned an average rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $13.19.

Several research analysts recently commented on the stock. Barclays assumed coverage on shares of Casa Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $8.00 target price on the stock. ValuEngine upgraded shares of Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. 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 report on Tuesday, July 16th. Raymond James downgraded shares of Casa Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley dropped 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 report on Thursday, July 11th.

A number of institutional investors and hedge funds have recently made changes to their positions in CASA. Vaughan Nelson Investment Management L.P. bought a new position in shares of Casa Systems during the 2nd quarter worth about $10,655,000. American Century Companies Inc. bought a new position in shares of Casa Systems during the 4th quarter worth about $10,925,000. Elk Creek Partners LLC increased its holdings in shares of Casa Systems by 59.7% during the 1st quarter. Elk Creek Partners LLC now owns 1,778,520 shares of the company’s stock worth $14,762,000 after purchasing an additional 664,521 shares during the period. Peregrine Capital Management LLC increased its holdings in shares of Casa Systems by 71.4% during the 2nd quarter. Peregrine Capital Management LLC now owns 969,918 shares of the company’s stock worth $6,237,000 after purchasing an additional 404,079 shares during the period. Finally, Thornburg Investment Management Inc. increased its holdings in shares of Casa Systems by 24.3% during the 1st quarter. Thornburg Investment Management Inc. now owns 1,516,372 shares of the company’s stock worth $12,586,000 after purchasing an additional 296,604 shares during the period. Hedge funds and other institutional investors own 67.07% of the company’s stock.

Shares of Casa Systems stock traded down $0.45 during midday trading on Wednesday, reaching $6.38. 326,467 shares of the company’s stock traded hands, compared to its average volume of 406,404. The stock has a market capitalization of $571.72 million, a P/E ratio of 7.97 and a beta of 0.76. The firm has a 50 day moving average of $6.69. The company has a debt-to-equity ratio of 4.20, a quick ratio of 5.02 and a current ratio of 6.25. Casa Systems has a 52 week low of $5.46 and a 52 week high of $16.75.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.15. The business had revenue of $52.10 million for the quarter, compared to the consensus estimate of $49.59 million. Casa Systems had a net margin of 8.71% and a return on equity of 32.65%. Casa Systems’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, research analysts expect that Casa Systems will post 0.12 EPS 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 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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