Suffolk Capital Management LLC acquired a new position in Cubic Co. (NYSE:CUB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,123 shares of the scientific and technical instruments company’s stock, valued at approximately $1,009,000. Suffolk Capital Management LLC owned approximately 0.06% of Cubic at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in Cubic by 223.9% in the fourth quarter. Arizona State Retirement System now owns 42,071 shares of the scientific and technical instruments company’s stock worth $2,480,000 after purchasing an additional 29,083 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in Cubic by 29.7% in the fourth quarter. Pinebridge Investments L.P. now owns 42,476 shares of the scientific and technical instruments company’s stock worth $2,504,000 after purchasing an additional 9,725 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Cubic by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 109,625 shares of the scientific and technical instruments company’s stock worth $6,462,000 after purchasing an additional 13,709 shares in the last quarter. Rutabaga Capital Management LLC MA bought a new position in Cubic in the fourth quarter worth $10,704,000. Finally, Swiss National Bank raised its holdings in Cubic by 4.7% in the fourth quarter. Swiss National Bank now owns 44,900 shares of the scientific and technical instruments company’s stock worth $2,647,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
A number of equities analysts have issued reports on the company. TheStreet downgraded Cubic from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Raymond James Financial reiterated an “outperform” rating and issued a $62.00 price objective (down previously from $64.00) on shares of Cubic in a report on Friday, January 19th. JPMorgan Chase & Co. downgraded Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Monday, November 27th. Needham & Company LLC increased their price objective on Cubic from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $64.00 price objective (up previously from $55.00) on shares of Cubic in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Cubic currently has an average rating of “Hold” and a consensus target price of $61.00.
Shares of Cubic Co. (NYSE:CUB) opened at $61.10 on Friday. Cubic Co. has a 12 month low of $39.58 and a 12 month high of $64.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.37 and a current ratio of 1.65.
Cubic (NYSE:CUB) last released its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.33). Cubic had a negative return on equity of 1.27% and a negative net margin of 1.21%. The company had revenue of $340.70 million during the quarter, compared to analysts’ expectations of $338.21 million. During the same period in the prior year, the company posted ($0.11) earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. equities analysts predict that Cubic Co. will post 1.27 EPS for the current year.
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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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