Zacks Investment Research upgraded shares of Cubic (NYSE:CUB) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $74.00 price objective 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 research firms also recently weighed in on CUB. ValuEngine raised shares of Cubic from a hold rating to a buy rating in a research note on Saturday, May 4th. Canaccord Genuity decreased their price target on shares of Cubic from $74.00 to $70.00 and set a buy rating for the company in a research note on Friday, April 5th. Finally, Raymond James raised shares of Cubic from an outperform rating to a strong-buy rating and set a $82.00 price target for the company in a research note on Monday, May 13th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $74.58.
CUB stock traded up $0.81 during midday trading on Wednesday, hitting $67.01. The stock had a trading volume of 2,009 shares, compared to its average volume of 213,413. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 104.61 and a beta of 1.19. The company has a current ratio of 1.35, a quick ratio of 1.12 and a debt-to-equity ratio of 0.23. Cubic has a 1-year low of $50.61 and a 1-year high of $77.35. The company’s fifty day moving average price is $65.18.
Cubic (NYSE:CUB) last released 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 consensus estimate of ($0.20) by $0.44. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The business had revenue of $337.30 million for the quarter, compared to analyst estimates of $326.88 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Cubic’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts predict that Cubic will post 3.27 EPS for the current fiscal year.
In related news, Director Edwin A. Guiles purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $62.28 per share, with a total value of $62,280.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John H. Warner, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of $59.50 per share, with a total value of $148,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,371 shares of company stock valued at $742,609. Insiders own 0.51% of the company’s stock.
Large investors have recently bought and sold shares of the company. FMR LLC grew its position in Cubic by 25,700.1% in the 4th quarter. FMR LLC now owns 234,007 shares of the scientific and technical instruments company’s stock worth $12,576,000 after purchasing an additional 233,100 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Cubic by 5,021.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 215,735 shares of the scientific and technical instruments company’s stock worth $12,132,000 after purchasing an additional 211,523 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cubic by 81.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 432,769 shares of the scientific and technical instruments company’s stock worth $24,339,000 after purchasing an additional 194,917 shares in the last quarter. AMI Asset Management Corp bought a new stake in Cubic in the 1st quarter worth about $10,361,000. Finally, Norges Bank bought a new stake in Cubic in the 4th quarter worth about $9,587,000. 94.97% of the stock is owned by institutional investors.
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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