Zacks Investment Research upgraded shares of Cubic (NYSE:CUB) from a sell rating to a strong-buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $68.00 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 analysts have also recently issued reports on the company. ValuEngine upgraded Cubic from a hold rating to a buy rating in a report on Saturday, May 4th. Canaccord Genuity dropped their target price on Cubic from $74.00 to $70.00 and set a buy rating for the company in a report on Friday, April 5th. Citigroup assumed coverage on Cubic in a report on Friday, February 15th. They issued a buy rating and a $75.00 target price for the company. Finally, Drexel Hamilton restated a buy rating and issued a $85.00 target price on shares of Cubic in a report on Thursday, February 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $72.34.
NYSE:CUB traded up $1.10 during trading hours on Wednesday, hitting $59.64. The company had a trading volume of 201,916 shares, compared to its average volume of 212,252. The company has a quick ratio of 1.12, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.82 billion, a P/E ratio of 58.54 and a beta of 1.20. Cubic has a 1 year low of $50.61 and a 1 year high of $77.35.
Cubic (NYSE:CUB) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.44. The company had revenue of $337.30 million during the quarter, compared to analysts’ expectations of $326.88 million. Cubic had a return on equity of 3.44% and a net margin of 0.62%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. On average, equities analysts anticipate that Cubic will post 3.34 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund lifted its stake in shares of Cubic by 16.2% in the 4th quarter. New York State Common Retirement Fund now owns 137,738 shares of the scientific and technical instruments company’s stock valued at $7,402,000 after purchasing an additional 19,253 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Cubic by 12.7% in the 4th quarter. Principal Financial Group Inc. now owns 231,916 shares of the scientific and technical instruments company’s stock valued at $12,463,000 after purchasing an additional 26,166 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cubic in the 4th quarter valued at $437,000. SG Capital Management LLC acquired a new position in shares of Cubic in the 1st quarter valued at $9,882,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Cubic by 68.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,150,000 shares of the scientific and technical instruments company’s stock valued at $61,801,000 after purchasing an additional 468,000 shares during the last quarter. 96.41% of the stock is currently owned by institutional investors and hedge funds.
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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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