Cubic (NYSE:CUB)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued on Tuesday, November 21st, Marketbeat Ratings reports. They presently have a $64.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $55.00. Canaccord Genuity’s target price would suggest a potential upside of 6.67% from the company’s previous close.
CUB has been the subject of a number of other reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $58.00 price objective (up from $49.00) on shares of Cubic in a research report on Wednesday, October 11th. Zacks Investment Research raised Cubic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. J P Morgan Chase & Co raised Cubic from a “neutral” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, August 10th. Raymond James Financial lifted their price target on Cubic and gave the stock a “buy” rating in a report on Friday, September 22nd. Finally, ValuEngine raised Cubic from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.17.
Cubic (CUB) traded down $0.50 during trading hours on Tuesday, hitting $60.00. The company had a trading volume of 166,102 shares, compared to its average volume of 141,305. Cubic has a fifty-two week low of $39.58 and a fifty-two week high of $64.95. The company has a quick ratio of 1.42, a current ratio of 1.65 and a debt-to-equity ratio of 0.29.
Cubic (NYSE:CUB) last issued its quarterly earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.14 by $0.35. Cubic had a negative return on equity of 1.66% and a negative net margin of 0.75%. The firm had revenue of $445.60 million during the quarter, compared to analysts’ expectations of $436.76 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. research analysts predict that Cubic will post 1.72 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of CUB. Quantbot Technologies LP bought a new position in shares of Cubic in the 3rd quarter valued at $106,000. Bessemer Group Inc. bought a new position in shares of Cubic in the 2nd quarter valued at $125,000. Cubist Systematic Strategies LLC bought a new position in shares of Cubic in the 3rd quarter valued at $159,000. SG Americas Securities LLC bought a new position in shares of Cubic in the 2nd quarter valued at $208,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Cubic by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock valued at $227,000 after acquiring an additional 2,169 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.
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Cubic Company Profile
Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).
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