Cubic Corporation (CUB) Cut to Strong Sell at Zacks Investment Research
Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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 also recently commented on the company. Raymond James Financial, Inc. upgraded Cubic Corporation from a “market perform” rating to a “strong-buy” rating and boosted their target price for the stock from $53.00 to $60.00 in a research report on Friday, September 22nd. 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. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price (up from $50.00) on shares of Cubic Corporation in a research report on Monday, September 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price (up from $48.00) on shares of Cubic Corporation in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.40.
Shares of Cubic Corporation (NYSE CUB) traded up 0.76% during mid-day trading on Wednesday, hitting $52.75. 150,980 shares of the stock were exchanged. Cubic Corporation has a 12 month low of $39.50 and a 12 month high of $55.65. The stock’s 50 day moving average is $45.29 and its 200-day moving average is $47.27. The stock’s market cap is $1.43 billion.
Cubic Corporation (NYSE:CUB) last announced its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.86). The business had revenue of $361.87 million for the quarter, compared to analyst estimates of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. On average, analysts anticipate that Cubic Corporation will post ($0.58) EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new stake in shares of Cubic Corporation in the first quarter valued at $115,000. Bessemer Group Inc. purchased a new stake in shares of Cubic Corporation in the second quarter valued at $125,000. SG Americas Securities LLC purchased a new stake in shares of Cubic Corporation in the second quarter valued at $208,000. State of Alaska Department of Revenue lifted its position in shares of Cubic Corporation by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock valued at $227,000 after acquiring an additional 2,169 shares in the last quarter. Finally, Invictus RG purchased a new stake in shares of Cubic Corporation in the first quarter valued at $231,000. Institutional investors own 88.77% 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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