Cubic Co. (CUB) Shares Bought by Morgan Stanley

Morgan Stanley grew its holdings in shares of Cubic Co. (NYSE:CUB) by 92.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,215 shares of the scientific and technical instruments company’s stock after buying an additional 57,205 shares during the quarter. Morgan Stanley owned 0.44% of Cubic worth $8,709,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in shares of Cubic by 1.9% during the 3rd quarter. Teachers Advisors LLC now owns 51,684 shares of the scientific and technical instruments company’s stock valued at $3,776,000 after acquiring an additional 977 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Cubic by 211.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,743 shares of the scientific and technical instruments company’s stock valued at $127,000 after acquiring an additional 1,183 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Cubic by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 39,178 shares of the scientific and technical instruments company’s stock valued at $2,862,000 after acquiring an additional 1,488 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Cubic by 3.7% during the 2nd quarter. California Public Employees Retirement System now owns 57,700 shares of the scientific and technical instruments company’s stock valued at $3,704,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Cubic by 2.1% during the 3rd quarter. Wells Fargo & Company MN now owns 104,632 shares of the scientific and technical instruments company’s stock valued at $7,643,000 after acquiring an additional 2,132 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

Shares of NYSE CUB opened at $56.18 on Tuesday. Cubic Co. has a 1-year low of $50.61 and a 1-year high of $77.35. The company has a current ratio of 2.06, a quick ratio of 1.78 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 87.78 and a beta of 1.26.

Cubic (NYSE:CUB) last issued its earnings results on Wednesday, February 6th. The scientific and technical instruments company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.10). Cubic had a return on equity of 2.30% and a net margin of 1.23%. The company had revenue of $305.30 million during the quarter, compared to analyst estimates of $288.55 million. During the same period in the prior year, the business earned ($0.36) earnings per share. Cubic’s quarterly revenue was up 22.9% on a year-over-year basis. Sell-side analysts anticipate that Cubic Co. will post 1.55 EPS for the current fiscal year.

Several equities research analysts recently issued reports on CUB shares. Drexel Hamilton reissued a “buy” rating and set a $85.00 price target on shares of Cubic in a research report on Thursday, February 7th. Zacks Investment Research raised Cubic from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, November 21st. Needham & Company LLC raised Cubic from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, November 16th. ValuEngine lowered Cubic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. raised Cubic from a “neutral” rating to an “overweight” rating and set a $59.03 price target on the stock in a research report on Sunday, December 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Cubic currently has a consensus rating of “Buy” and an average price target of $74.21.

ILLEGAL ACTIVITY NOTICE: “Cubic Co. (CUB) Shares Bought by Morgan Stanley” was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2019/02/12/cubic-co-cub-shares-bought-by-morgan-stanley.html.

Cubic Company Profile

Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).

Recommended Story: How are institutional investors different from individual investors?

Want to see what other hedge funds are holding CUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cubic Co. (NYSE:CUB).

Institutional Ownership by Quarter for Cubic (NYSE:CUB)

Receive News & Ratings for Cubic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cubic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply