Cubic Co. (NYSE:CUB) Director David F. Melcher acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $59.88 per share, with a total value of $59,880.00. Following the completion of the purchase, the director now owns 5,025 shares in the company, valued at approximately $300,897. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NYSE:CUB opened at $59.76 on Tuesday. Cubic Co. has a 12 month low of $50.61 and a 12 month high of $75.20. The stock has a 50 day moving average of $69.26 and a two-hundred day moving average of $66.84. The company has a current ratio of 1.37, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.86 billion, a P/E ratio of 36.53 and a beta of 1.11.
Cubic (NYSE:CUB) last posted its quarterly earnings results on Wednesday, November 20th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.08). The company had revenue of $471.20 million during the quarter, compared to analysts’ expectations of $440.34 million. Cubic had a net margin of 3.32% and a return on equity of 6.98%. Cubic’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. On average, research analysts forecast that Cubic Co. will post 3.43 earnings per share for the current year.
CUB has been the subject of several research reports. TheStreet upgraded Cubic from a “c” rating to a “b-” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered Cubic from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $67.00 in a research note on Wednesday, November 27th. SunTrust Banks initiated coverage on Cubic in a research note on Thursday, September 5th. They set a “hold” rating and a $74.00 price objective for the company. Needham & Company LLC cut their price objective on Cubic from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, ValuEngine lowered Cubic from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Cubic currently has a consensus rating of “Buy” and an average price target of $75.63.
Hedge funds have recently bought and sold shares of the company. Phocas Financial Corp. purchased a new stake in shares of Cubic in the second quarter valued at approximately $4,271,000. First Trust Advisors LP purchased a new stake in shares of Cubic in the third quarter valued at approximately $2,450,000. Zacks Investment Management purchased a new stake in shares of Cubic in the second quarter valued at approximately $1,836,000. Virginia Retirement Systems ET AL grew its position in shares of Cubic by 453.8% in the second quarter. Virginia Retirement Systems ET AL now owns 21,600 shares of the scientific and technical instruments company’s stock valued at $1,393,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Cubic by 8.8% in the second quarter. Rice Hall James & Associates LLC now owns 307,576 shares of the scientific and technical instruments company’s stock valued at $19,833,000 after purchasing an additional 24,983 shares in the last quarter. Institutional investors and hedge funds own 97.60% 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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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