Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note 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. “

CUB has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective (down from $55.00) on shares of Cubic Corporation in a research report on Tuesday, May 9th. BidaskClub upgraded Cubic Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Canaccord Genuity cut their price objective on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $54.50.

Shares of Cubic Corporation (NYSE:CUB) traded up 2.93% during trading on Monday, hitting $43.90. The company’s stock had a trading volume of 319,605 shares. Cubic Corporation has a one year low of $39.50 and a one year high of $55.65. The stock’s market cap is $1.19 billion. The company has a 50-day moving average price of $46.84 and a 200-day moving average price of $49.02.

Cubic Corporation (NYSE:CUB) last posted its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.86. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The company had revenue of $361.87 million for the quarter, compared to analyst estimates of $383.47 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Cubic Corporation’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Cubic Corporation will post $0.18 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC increased its position in shares of Cubic Corporation by 11.3% in the first quarter. Meadow Creek Investment Management LLC now owns 2,006 shares of the scientific and technical instruments company’s stock valued at $106,000 after buying an additional 204 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Cubic Corporation by 3.8% in the second quarter. PineBridge Investments L.P. now owns 2,771 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 101 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Cubic Corporation during the first quarter valued at about $115,000. Bessemer Group Inc. bought a new position in shares of Cubic Corporation during the second quarter valued at about $125,000. Finally, Teacher Retirement System of Texas increased its position in shares of Cubic Corporation by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the scientific and technical instruments company’s stock valued at $129,000 after buying an additional 399 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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