Cubic (NYSE:CUB) had its target price raised by JPMorgan Chase & Co. from $56.00 to $61.00 in a report issued on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the scientific and technical instruments company’s stock.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised Cubic from a sell rating to a hold rating in a report on Monday, August 10th. Canaccord Genuity increased their target price on Cubic from $48.00 to $58.00 and gave the company a buy rating in a report on Thursday, August 6th. Needham & Company LLC reissued a buy rating and issued a $52.00 target price on shares of Cubic in a report on Thursday, August 6th. TheStreet raised Cubic from a d rating to a c- rating in a report on Monday, June 29th. Finally, Royal Bank of Canada began coverage on Cubic in a report on Wednesday, May 20th. They issued a sector perform rating and a $37.00 target price on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Cubic has a consensus rating of Buy and a consensus target price of $52.88.
Shares of NYSE:CUB opened at $44.24 on Tuesday. The company has a market cap of $1.37 billion, a P/E ratio of 14.13 and a beta of 1.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.23 and a quick ratio of 0.98. Cubic has a 1 year low of $30.86 and a 1 year high of $75.20. The stock’s fifty day moving average price is $45.01 and its 200-day moving average price is $43.45.
Cubic (NYSE:CUB) last announced its quarterly earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.16. The firm had revenue of $350.44 million for the quarter, compared to the consensus estimate of $379.81 million. Cubic had a positive return on equity of 5.96% and a negative net margin of 1.30%. On average, sell-side analysts anticipate that Cubic will post 2.58 earnings per share for the current year.
The company also recently declared a semi-annual dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 31st were issued a dividend of $0.135 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 28th. Cubic’s dividend payout ratio is presently 8.63%.
In other Cubic news, CEO Bradley H. Feldmann sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.85, for a total transaction of $229,250.00. Following the completion of the transaction, the chief executive officer now owns 53,961 shares in the company, valued at approximately $2,474,111.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Cubic by 16.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,922 shares of the scientific and technical instruments company’s stock valued at $79,000 after purchasing an additional 266 shares during the last quarter. UBS Group AG lifted its stake in shares of Cubic by 2.6% during the 2nd quarter. UBS Group AG now owns 13,088 shares of the scientific and technical instruments company’s stock worth $629,000 after acquiring an additional 330 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cubic by 18.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,830 shares of the scientific and technical instruments company’s stock worth $117,000 after acquiring an additional 441 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Cubic by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 45,600 shares of the scientific and technical instruments company’s stock worth $1,884,000 after acquiring an additional 450 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Cubic during the 2nd quarter worth approximately $28,000.
Cubic Company Profile
Cubic Corporation designs, integrates, and operates systems, products, and services for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers worldwide. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Mission Solutions (CMS), and Cubic Global Defense Systems (CGD).
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