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 analysts have also commented on CUB. Canaccord Genuity reaffirmed a “buy” rating and set a $50.00 target price on shares of Cubic Corporation in a research report on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price (down from $52.00) on shares of Cubic Corporation in a research report on Wednesday, August 9th. J P Morgan Chase & Co raised shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday, August 10th. ValuEngine raised shares of Cubic Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Cubic Corporation and gave the company a “buy” rating in a report on Friday, September 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $56.67.
Cubic Corporation (NYSE:CUB) opened at 52.35 on Tuesday. Cubic Corporation has a 12-month low of $39.50 and a 12-month high of $55.65. The stock’s market cap is $1.42 billion. The firm’s 50 day moving average price is $47.05 and its 200-day moving average price is $47.28.
Cubic Corporation (NYSE:CUB) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.86). The company had revenue of $361.87 million for the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. Equities research analysts anticipate that Cubic Corporation will post ($0.58) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of CUB. Value Holdings Management CO. LLC grew its holdings in Cubic Corporation by 20.6% in the second quarter. Value Holdings Management CO. LLC now owns 116,195 shares of the scientific and technical instruments company’s stock worth $5,380,000 after purchasing an additional 19,884 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Cubic Corporation in the first quarter worth $115,000. Vanguard Group Inc. grew its holdings in Cubic Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock worth $113,820,000 after purchasing an additional 92,168 shares during the last quarter. Invictus RG purchased a new position in Cubic Corporation in the first quarter worth $231,000. Finally, State Street Corp grew its holdings in Cubic Corporation by 5.9% in the first quarter. State Street Corp now owns 739,198 shares of the scientific and technical instruments company’s stock worth $39,032,000 after purchasing an additional 41,484 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.
Cubic Corporation 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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