Cubic (NYSE:CUB) had its price target raised by research analysts at Citigroup from $50.00 to $60.00 in a report issued on Wednesday, The Fly reports. Citigroup‘s target price suggests a potential upside of 31.32% from the stock’s previous close.
A number of other research firms have also recently issued reports on CUB. Zacks Investment Research upgraded Cubic from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Royal Bank of Canada started coverage on Cubic in a report on Wednesday, May 20th. They set a “sector perform” rating and a $37.00 price target on the stock. TheStreet upgraded Cubic from a “d” rating to a “c-” rating in a report on Monday, June 29th. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Cubic in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on Cubic from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Cubic presently has an average rating of “Buy” and a consensus price target of $54.13.
Cubic stock traded up $1.45 during midday trading on Wednesday, reaching $45.69. The company’s stock had a trading volume of 7,113 shares, compared to its average volume of 344,637. Cubic has a 52 week low of $30.86 and a 52 week high of $75.20. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $45.01 and a 200-day moving average price of $43.45. The stock has a market cap of $1.39 billion, a PE ratio of 14.60 and a beta of 1.11.
Cubic (NYSE:CUB) last released its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $350.44 million for the quarter, compared to analysts’ expectations of $379.81 million. As a group, research analysts predict that Cubic will post 2.58 EPS for the current fiscal year.
In related news, CEO Bradley H. Feldmann sold 5,000 shares of Cubic stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.85, for a total value of $229,250.00. Following the transaction, the chief executive officer now directly owns 53,961 shares of the company’s stock, valued at $2,474,111.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of Cubic by 0.4% in the first quarter. Franklin Resources Inc. now owns 759,892 shares of the scientific and technical instruments company’s stock worth $31,391,000 after acquiring an additional 2,681 shares during the period. Swiss National Bank lifted its stake in Cubic by 21.4% in the second quarter. Swiss National Bank now owns 69,900 shares of the scientific and technical instruments company’s stock valued at $3,357,000 after buying an additional 12,300 shares during the period. State Street Corp lifted its stake in Cubic by 2.8% in the first quarter. State Street Corp now owns 1,877,841 shares of the scientific and technical instruments company’s stock valued at $77,574,000 after buying an additional 51,796 shares during the period. FDx Advisors Inc. acquired a new position in Cubic in the first quarter valued at approximately $573,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Cubic by 34.0% in the first quarter. BNP Paribas Arbitrage SA now owns 30,633 shares of the scientific and technical instruments company’s stock valued at $1,265,000 after buying an additional 7,776 shares during the period.
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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