Cubic Co. (NYSE:CUB) Director David F. Melcher bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average cost of $74.50 per share, with a total value of $74,500.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $149,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Cubic stock opened at $75.45 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. Cubic Co. has a 12-month low of $43.40 and a 12-month high of $77.35. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -184.02 and a beta of 1.05.
Cubic (NYSE:CUB) last issued its quarterly earnings results on Wednesday, August 8th. The scientific and technical instruments company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.08). Cubic had a net margin of 0.57% and a return on equity of 1.54%. The company had revenue of $296.21 million for the quarter, compared to analyst estimates of $280.33 million. During the same quarter in the previous year, the company posted ($2.89) EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. research analysts forecast that Cubic Co. will post 1.1 EPS for the current year.
The business also recently declared a semiannual dividend, which was paid on Monday, September 10th. Shareholders of record on Thursday, August 30th were paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, August 29th. This represents a yield of 0.4%. Cubic’s payout ratio is -65.85%.
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Cubic from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, June 15th. Canaccord Genuity increased their target price on shares of Cubic from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Drexel Hamilton reissued a “buy” rating and set a $85.00 target price on shares of Cubic in a research report on Thursday, August 30th. ValuEngine raised shares of Cubic from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of Cubic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Cubic has an average rating of “Buy” and a consensus price target of $71.00.
Institutional investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Cubic during the 2nd quarter valued at approximately $340,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Cubic by 35.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 71,073 shares of the scientific and technical instruments company’s stock valued at $4,563,000 after purchasing an additional 18,426 shares in the last quarter. Prudential Financial Inc. increased its stake in Cubic by 2.1% during the 1st quarter. Prudential Financial Inc. now owns 42,496 shares of the scientific and technical instruments company’s stock valued at $2,703,000 after purchasing an additional 870 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Cubic by 3.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 210,905 shares of the scientific and technical instruments company’s stock valued at $13,414,000 after purchasing an additional 6,179 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in Cubic during the 1st quarter valued at approximately $393,000. Institutional investors and hedge funds own 97.02% of the company’s stock.
Cubic Company Profile
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).
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