Cubic (NYSE:CUB) had its target price raised by equities research analysts at Citigroup from $50.00 to $60.00 in a research report issued on Wednesday, The Fly reports. Citigroup‘s price objective would indicate a potential upside of 31.32% from the company’s previous close.
CUB has been the topic of several other reports. Royal Bank of Canada started coverage on Cubic in a research report on Wednesday, May 20th. They issued a “sector perform” rating and a $37.00 price objective on the stock. Zacks Investment Research upgraded Cubic from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. TheStreet upgraded Cubic from a “d” rating to a “c-” rating in a research report on Monday, June 29th. Canaccord Genuity boosted their target price on Cubic from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Cubic in a research report on Thursday, August 6th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $54.13.
NYSE:CUB traded up $1.45 during mid-day trading on Wednesday, hitting $45.69. 7,113 shares of the company traded hands, compared to its average volume of 344,637. The stock’s fifty day moving average price is $45.01 and its 200-day moving average price is $43.45. Cubic has a one year low of $30.86 and a one year high of $75.20. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 14.60 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.64.
Cubic (NYSE:CUB) last announced its quarterly earnings data on Wednesday, August 5th. The scientific and technical instruments company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.16. Cubic had a positive return on equity of 5.96% and a negative net margin of 1.30%. The business had revenue of $350.44 million for the quarter, compared to the consensus estimate of $379.81 million. Equities analysts predict that Cubic will post 2.58 EPS for the current year.
In other Cubic news, CEO Bradley H. Feldmann sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.85, for a total transaction of $229,250.00. Following the sale, the chief executive officer now directly owns 53,961 shares in the company, valued at $2,474,111.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new position in shares of Cubic during the second quarter valued at approximately $1,579,000. Nuveen Asset Management LLC grew its stake in shares of Cubic by 30.0% during the second quarter. Nuveen Asset Management LLC now owns 228,955 shares of the scientific and technical instruments company’s stock valued at $10,997,000 after buying an additional 52,823 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cubic by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 276,724 shares of the scientific and technical instruments company’s stock valued at $13,292,000 after buying an additional 8,290 shares during the last quarter. Sei Investments Co. grew its stake in shares of Cubic by 8.9% during the second quarter. Sei Investments Co. now owns 18,918 shares of the scientific and technical instruments company’s stock valued at $911,000 after buying an additional 1,554 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Cubic during the second quarter valued at approximately $28,000.
Cubic Company Profile
Cubic Corporation designs, integrates, and operates systems, products, and services for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers worldwide. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Mission Solutions (CMS), and Cubic Global Defense Systems (CGD).
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