Zacks Investment Research upgraded shares of Cubic (NYSE:CUB) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $74.00 price target on the scientific and technical instruments company’s stock.
According to Zacks, “Cubic Corporation is the parent company of two major business segments: defense and transportation. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support services and defense electronics. Cubic Transportation Systems designs and manufactures automatic fare collection systems for public transit authorities. Cubic Transportation Systems designs, manufactures and integrates automatic fare collection systems for public transit projects throughout the world. This includes rail, bus and parking lot systems. The company supplies contactless smart cards; magnetic stripe cards; device software; and transit hardware including gates, ticket machines and card readers. Cubic Defense Applications provides realistic live combat training systems for military forces as well as virtual training systems, constructive simulation support, force modernization, battle command training and education and engineering & technical support. “
Several other brokerages have also weighed in on CUB. ValuEngine upgraded shares of Cubic from a hold rating to a buy rating in a research report on Saturday, May 4th. Canaccord Genuity decreased their target price on shares of Cubic from $74.00 to $70.00 and set a buy rating on the stock in a research report on Friday, April 5th. Finally, Raymond James upgraded shares of Cubic from an outperform rating to a strong-buy rating and set a $82.00 target price on the stock in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $74.58.
Shares of Cubic stock traded down $0.61 during trading on Wednesday, hitting $65.07. 329,654 shares of the company’s stock traded hands, compared to its average volume of 255,330. The company has a current ratio of 1.35, a quick ratio of 1.12 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $65.34. Cubic has a twelve month low of $50.61 and a twelve month high of $77.35. The firm has a market cap of $2.05 billion, a P/E ratio of 101.67 and a beta of 1.19.
Cubic (NYSE:CUB) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.44. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The business had revenue of $337.30 million for the quarter, compared to analyst estimates of $326.88 million. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, research analysts predict that Cubic will post 3.27 EPS for the current year.
In other news, Director Edwin A. Guiles purchased 1,000 shares of Cubic stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $62,280.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edwin A. Guiles purchased 2,716 shares of Cubic stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $59.80 per share, for a total transaction of $162,416.80. Following the completion of the transaction, the director now owns 14,022 shares of the company’s stock, valued at $838,515.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 12,371 shares of company stock worth $742,609. Company insiders own 0.51% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its position in Cubic by 4.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,200,000 shares of the scientific and technical instruments company’s stock valued at $67,488,000 after buying an additional 50,000 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in shares of Cubic by 3.0% in the first quarter. Ceredex Value Advisors LLC now owns 815,271 shares of the scientific and technical instruments company’s stock worth $45,851,000 after acquiring an additional 24,014 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Cubic by 18.7% in the first quarter. Artisan Partners Limited Partnership now owns 521,146 shares of the scientific and technical instruments company’s stock worth $29,309,000 after acquiring an additional 82,171 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Cubic by 13.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 491,475 shares of the scientific and technical instruments company’s stock worth $31,690,000 after acquiring an additional 58,706 shares during the last quarter. Finally, River Road Asset Management LLC raised its stake in shares of Cubic by 2.5% in the first quarter. River Road Asset Management LLC now owns 379,535 shares of the scientific and technical instruments company’s stock worth $21,345,000 after acquiring an additional 9,185 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.
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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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