Zacks Investment Research Upgrades Cubic Corporation (CUB) to “Hold”
Cubic Corporation (NYSE:CUB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 equities research analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 price target (up previously from $48.00) on shares of Cubic Corporation in a research report on Thursday, September 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $55.00 price target (up previously from $50.00) on shares of Cubic Corporation in a research report on Monday, September 25th. Raymond James Financial, Inc. increased their price target on Cubic Corporation and gave the company a “buy” rating in a research report on Friday, September 22nd. ValuEngine raised Cubic Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, J P Morgan Chase & Co raised Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.40.
Cubic Corporation (CUB) traded up 0.56% during mid-day trading on Tuesday, hitting $53.40. The company had a trading volume of 189,986 shares. The company’s market capitalization is $1.45 billion. The company has a 50-day moving average price of $46.77 and a 200 day moving average price of $47.25. Cubic Corporation has a 52-week low of $39.50 and a 52-week high of $55.65.
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 analysts’ consensus estimates of $0.05 by ($0.86). The company had revenue of $361.87 million during the quarter, compared to analyst estimates of $383.47 million. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. Cubic Corporation’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, analysts forecast that Cubic Corporation will post ($0.58) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of CUB. Ameritas Investment Partners Inc. acquired a new stake in shares of Cubic Corporation during the 1st quarter worth about $115,000. Bessemer Group Inc. acquired a new stake in shares of Cubic Corporation during the 2nd quarter worth about $125,000. SG Americas Securities LLC acquired a new stake in shares of Cubic Corporation during the 2nd quarter worth about $208,000. State of Alaska Department of Revenue raised its position in shares of Cubic Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock worth $227,000 after acquiring an additional 2,169 shares in the last quarter. Finally, Invictus RG acquired a new stake in shares of Cubic Corporation during the 1st quarter worth about $231,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.
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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