Cubic Corporation (NYSE:CUB)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a research report issued on Monday, Marketbeat Ratings reports. They currently have a $55.00 price objective on the scientific and technical instruments company’s stock, up from their prior price objective of $50.00. Canaccord Genuity’s target price suggests a potential upside of 6.59% from the company’s current price.

A number of other analysts also recently weighed in on the company. Raymond James Financial, Inc. upgraded Cubic Corporation from a “market perform” rating to a “strong-buy” rating and upped their target price for the company from $53.00 to $60.00 in a research report on Friday. Zacks Investment Research downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. BidaskClub downgraded Cubic Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.33.

Shares of Cubic Corporation (CUB) remained flat at $51.60 on Monday. 293,396 shares of the company’s stock traded hands. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 860.00 and a beta of 1.00. Cubic Corporation has a 1-year low of $39.50 and a 1-year high of $55.65. The stock has a 50 day moving average price of $43.32 and a 200-day moving average price of $47.36.

Cubic Corporation (NYSE:CUB) last released its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.86). The company had revenue of $361.87 million for the quarter, compared to the consensus estimate of $383.47 million. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, equities analysts predict that Cubic Corporation will post ($0.58) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in CUB. BlackRock Inc. lifted its position in shares of Cubic Corporation by 45,983.5% during the 1st quarter. BlackRock Inc. now owns 3,781,155 shares of the scientific and technical instruments company’s stock worth $199,644,000 after buying an additional 3,772,950 shares during the last quarter. Cortina Asset Management LLC lifted its position in shares of Cubic Corporation by 221.1% during the 1st quarter. Cortina Asset Management LLC now owns 294,599 shares of the scientific and technical instruments company’s stock worth $15,555,000 after buying an additional 202,848 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Cubic Corporation by 14.5% during the 2nd 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 buying an additional 151,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cubic Corporation by 6.6% during the 2nd 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 during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Cubic Corporation by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock worth $113,820,000 after buying an additional 92,168 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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).

Analyst Recommendations for Cubic Corporation (NYSE:CUB)

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