Cubic Co. (CUB) Downgraded to “Neutral” at J P Morgan Chase & Co

Cubic Co. (NYSE:CUB) was downgraded by stock analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They currently have a $59.00 price objective on the scientific and technical instruments company’s stock. J P Morgan Chase & Co’s price target would indicate a potential downside of 5.07% from the stock’s current price.

CUB has been the subject of a number of other reports. Credit Suisse Group reiterated an “outperform” rating and issued a $58.00 price target (up from $49.00) on shares of Cubic in a research report on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Cubic in a research report on Monday, September 25th. Zacks Investment Research upgraded shares of Cubic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Raymond James Financial, Inc. lifted their price target on shares of Cubic and gave the company a “buy” rating in a research report on Friday, September 22nd. Finally, ValuEngine upgraded shares of Cubic from a “sell” rating to a “hold” rating in a research 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 given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.17.

Shares of Cubic (NYSE:CUB) traded up $0.15 during mid-day trading on Monday, reaching $62.15. 148,600 shares of the company’s stock traded hands, compared to its average volume of 138,900. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.41. Cubic has a 1 year low of $39.58 and a 1 year high of $64.95.

Cubic (NYSE:CUB) last issued its quarterly earnings data on Monday, November 20th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.35. Cubic had a negative net margin of 0.75% and a negative return on equity of 1.66%. The firm had revenue of $445.60 million during the quarter, compared to the consensus estimate of $436.76 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. sell-side analysts anticipate that Cubic will post 1.72 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Cubic in the third quarter valued at approximately $106,000. Bessemer Group Inc. bought a new position in Cubic in the second quarter valued at approximately $125,000. Cubist Systematic Strategies LLC bought a new position in Cubic in the third quarter valued at approximately $159,000. SG Americas Securities LLC bought a new position in Cubic in the second quarter valued at approximately $208,000. Finally, State of Alaska Department of Revenue increased its stake in Cubic by 78.9% in the second 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 during the last quarter. 86.52% of the stock is currently owned by institutional investors and hedge funds.

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About Cubic

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).

Analyst Recommendations for Cubic (NYSE:CUB)

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