Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday.
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. “
A number of other analysts have also commented on CUB. Canaccord Genuity reissued a “buy” rating and set a $50.00 price target on shares of Cubic Corporation in a research note on Thursday, August 10th. J P Morgan Chase & Co raised Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective (down from $52.00) on shares of Cubic Corporation in a research note on Wednesday, August 9th. ValuEngine raised Cubic Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $58.00 price objective (up from $49.00) on shares of Cubic Corporation in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.17.
Shares of Cubic Corporation (CUB) opened at $60.75 on Monday. Cubic Corporation has a 12 month low of $39.58 and a 12 month high of $64.35. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.30.
Cubic Corporation (NYSE:CUB) last announced its quarterly earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.35. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm had revenue of $445.60 million for the quarter, compared to analyst estimates of $436.76 million. During the same period last year, the firm posted ($0.28) earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. research analysts anticipate that Cubic Corporation will post -0.75 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of CUB. BlackRock Inc. increased its holdings in Cubic Corporation by 1.3% in the second quarter. BlackRock Inc. now owns 3,829,369 shares of the scientific and technical instruments company’s stock worth $177,300,000 after purchasing an additional 48,214 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cubic Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock worth $113,820,000 after purchasing an additional 92,168 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cubic Corporation by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,783,929 shares of the scientific and technical instruments company’s stock worth $90,980,000 after purchasing an additional 53,330 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Cubic Corporation by 14.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,191,000 shares of the scientific and technical instruments company’s stock worth $55,143,000 after purchasing an additional 151,000 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Cubic Corporation by 3.5% in the third quarter. Pzena Investment Management LLC now owns 946,046 shares of the scientific and technical instruments company’s stock worth $48,248,000 after purchasing an additional 31,917 shares in the last quarter. 86.52% of the stock is currently owned by institutional investors.
About Cubic Corporation
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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