Cubic Co. (CUB) Receives Average Rating of “Hold” from Analysts
Shares of Cubic Co. (NYSE:CUB) have received a consensus rating of “Hold” from the ten brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.20.
Several research analysts recently issued reports on CUB shares. Raymond James Financial raised shares of Cubic from a “market perform” rating to a “strong-buy” rating and raised their target price for the stock from $53.00 to $60.00 in a report on Friday, September 22nd. Zacks Investment Research cut shares of Cubic from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. Needham & Company LLC raised their target price on shares of Cubic from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Canaccord Genuity reissued a “buy” rating and set a $64.00 target price (up previously from $55.00) on shares of Cubic in a report on Tuesday, November 21st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $58.00 target price (up previously from $49.00) on shares of Cubic in a report on Wednesday, October 11th.
Shares of Cubic (NYSE CUB) traded down $0.50 during trading on Thursday, hitting $60.00. 166,102 shares of the company traded hands, compared to its average volume of 141,305. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.42. Cubic has a 12-month low of $39.58 and a 12-month high of $64.95.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Cubic by 1.3% during the second quarter. BlackRock Inc. now owns 3,829,369 shares of the scientific and technical instruments company’s stock valued at $177,300,000 after buying an additional 48,214 shares during the period. California Public Employees Retirement System grew its position in Cubic by 9.2% during the second quarter. California Public Employees Retirement System now owns 47,500 shares of the scientific and technical instruments company’s stock valued at $2,199,000 after buying an additional 4,000 shares during the period. Granite Investment Partners LLC grew its position in Cubic by 35.1% during the third quarter. Granite Investment Partners LLC now owns 301,266 shares of the scientific and technical instruments company’s stock valued at $15,364,000 after buying an additional 78,192 shares during the period. JPMorgan Chase & Co. grew its position in Cubic by 20.6% during the second quarter. JPMorgan Chase & Co. now owns 12,091 shares of the scientific and technical instruments company’s stock valued at $560,000 after buying an additional 2,064 shares during the period. Finally, Supplemental Annuity Collective Trust of NJ acquired a new stake in Cubic during the third quarter valued at $510,000. Institutional investors own 90.57% of the company’s stock.
Cubic 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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