Cubic Corporation (NYSE:CUB)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research note issued to investors on Thursday. They presently have a $50.00 price target on the scientific and technical instruments company’s stock. Canaccord Genuity’s price target points to a potential upside of 18.48% from the company’s current price.
The analysts wrote, “Date and time of first dissemination: August 10, 2017, 09:39 ET Date and time of production: August 10, 2017, 09:39 ET Target Price / Valuation Methodology: Cubic Corporation – CUB Our $50 price target is based on the weighted blend of a 33x EPS multiple and a 14x multiple on our adjusted 2018 EBITDA estimate. Risks to achieving Target Price / Valuation: Cubic Corporation – CUB A few of the investment risks for Cubic Corp include the potential for financial statement restatements (the company restated YE2013/2012 on May 2014 and has completed two restatements in the last three years), issues with internal control over financial reporting (the company addressed earlier this year, defense spending by U.S. and allied nations, government contractor bill rates and contracting terms, acquisition integration, FX rates and interest rate movements, contract timing in the CTS business, transport project management and cost control, specific DoD program timing and contract award schedules, technology integration into the government and transport markets, competitive consolidation and program bidding, M&A opportunities and pipeline.””
Several other brokerages have also recently issued reports on CUB. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price (down from $55.00) on shares of Cubic Corporation in a report on Tuesday, May 9th. Zacks Investment Research lowered shares of Cubic Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. BidaskClub upgraded shares of Cubic Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine lowered shares of Cubic Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.40.
Cubic Corporation (NYSE:CUB) opened at 42.20 on Thursday. Cubic Corporation has a 52-week low of $39.50 and a 52-week high of $55.65. The company’s market capitalization is $1.14 billion. The stock’s 50 day moving average is $46.13 and its 200-day moving average is $48.73.
Cubic Corporation (NYSE:CUB) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.86. The firm had revenue of $361.87 million during the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Analysts predict that Cubic Corporation will post ($0.58) EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Cubic Corporation by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,730,599 shares of the scientific and technical instruments company’s stock worth $80,126,000 after buying an additional 106,660 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Cubic Corporation by 9.0% in the second quarter. Suntrust Banks Inc. now owns 64,030 shares of the scientific and technical instruments company’s stock worth $2,964,000 after buying an additional 5,289 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Cubic Corporation by 9.2% in the second quarter. California Public Employees Retirement System now owns 47,500 shares of the scientific and technical instruments company’s stock worth $2,199,000 after buying an additional 4,000 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cubic Corporation by 1.6% in the second quarter. Northern Trust Corp now owns 635,897 shares of the scientific and technical instruments company’s stock worth $29,441,000 after buying an additional 10,316 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Cubic Corporation by 17.3% in the second quarter. Citigroup Inc. now owns 28,929 shares of the scientific and technical instruments company’s stock worth $1,339,000 after buying an additional 4,275 shares in the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.
Cubic Corporation Company Profile
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).
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