Casa Systems (NASDAQ:CASA) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.
A number of other research firms have also weighed in on CASA. Zacks Investment Research raised shares of Casa Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Morgan Stanley raised shares of Casa Systems from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Tuesday, July 10th. Northland Securities set a $25.00 price objective on shares of Casa Systems and gave the company a “buy” rating in a research note on Thursday, July 12th. Loop Capital began coverage on shares of Casa Systems in a research report on Wednesday, July 25th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Casa Systems from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.00.
Casa Systems stock opened at $15.60 on Wednesday. Casa Systems has a 1-year low of $13.25 and a 1-year high of $34.21. The firm has a market capitalization of $1.29 billion and a price-to-earnings ratio of 19.75. The company has a debt-to-equity ratio of 4.11, a quick ratio of 4.93 and a current ratio of 5.29.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CASA. BlackRock Inc. bought a new position in shares of Casa Systems during the first quarter valued at about $42,491,000. Overbrook Management Corp lifted its position in shares of Casa Systems by 898.8% during the second quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock valued at $23,322,000 after purchasing an additional 1,285,176 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Casa Systems during the second quarter valued at about $15,563,000. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Casa Systems by 2,712.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock valued at $10,357,000 after purchasing an additional 611,655 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Casa Systems during the second quarter valued at about $8,329,000. 49.67% of the stock is currently owned by institutional investors.
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.
Featured Story: Google Finance Portfolio Tips and Tricks
Receive News & Ratings for Casa Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casa Systems and related companies with MarketBeat.com's FREE daily email newsletter.