Cubic (NYSE:CUB) had its target price raised by Needham & Company LLC to $70.00 in a research report released on Friday, The Fly reports. They currently have a buy rating on the scientific and technical instruments company’s stock.
CUB has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Cubic from a sell rating to a hold rating in a report on Tuesday, March 13th. TheStreet lowered shares of Cubic from a b- rating to a c rating in a report on Thursday, February 8th. ValuEngine upgraded shares of Cubic from a hold rating to a buy rating in a report on Monday, April 2nd. Canaccord Genuity boosted their price objective on shares of Cubic from $66.00 to $72.00 and gave the stock a buy rating in a report on Friday. Finally, Raymond James 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $64.20.
Shares of CUB stock opened at $65.40 on Friday. Cubic has a 12 month low of $39.58 and a 12 month high of $67.20. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1,780.38, a price-to-earnings ratio of -159.51 and a beta of 0.94.
Cubic (NYSE:CUB) last issued its quarterly earnings data 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 firm had revenue of $340.70 million during the quarter, compared to analyst estimates of $338.21 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. sell-side analysts forecast that Cubic will post 1.18 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Cubic by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,783,929 shares of the scientific and technical instruments company’s stock valued at $90,980,000 after purchasing an additional 53,330 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cubic by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 330,849 shares of the scientific and technical instruments company’s stock valued at $19,503,000 after purchasing an additional 4,300 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Cubic by 9.7% in the 4th quarter. Bank of Montreal Can now owns 249,089 shares of the scientific and technical instruments company’s stock valued at $14,684,000 after purchasing an additional 22,036 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Cubic by 426.8% in the 4th quarter. Teachers Advisors LLC now owns 240,193 shares of the scientific and technical instruments company’s stock valued at $14,159,000 after purchasing an additional 194,594 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Cubic by 9.5% in the 4th quarter. Geode Capital Management LLC now owns 218,403 shares of the scientific and technical instruments company’s stock valued at $12,874,000 after purchasing an additional 18,893 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
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Cubic Company Profile
Cubic Corporation provides systems and solutions for the transportation and defense markets in the United States and internationally. It operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), and Cubic Global Defense Services (CGD Services). The CTS segment provides fare collection and revenue management devices, software, systems and multiagency, multimodal integration technologies, and operational services for transportation authorities and operators.
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