Cubic (CUB) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Cubic (NYSE:CUB) from a strong sell rating to a hold rating in a report published 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 brokerages have also recently weighed in on CUB. Drexel Hamilton reissued a buy rating and issued a $85.00 price target on shares of Cubic in a research note on Thursday, August 30th. Canaccord Genuity lifted their price target on Cubic from $76.00 to $78.00 and gave the company a buy rating in a report on Thursday, August 9th. ValuEngine upgraded Cubic from a buy rating to a strong-buy rating in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Cubic from $66.00 to $70.00 and gave the stock a neutral rating in a report on Friday, June 15th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Cubic presently has a consensus rating of Buy and an average target price of $73.17.
Cubic (NYSE:CUB) last issued its quarterly earnings results on Wednesday, August 8th. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.08). The company had revenue of $296.21 million during the quarter, compared to analysts’ expectations of $280.33 million. Cubic had a return on equity of 1.54% and a net margin of 0.57%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.89) EPS. As a group, equities analysts forecast that Cubic will post 1.1 EPS for the current year.
In other Cubic news, SVP Mark Harrison sold 1,000 shares of Cubic stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $73.69, for a total value of $73,690.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David H. Buss sold 2,917 shares of Cubic stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $74.00, for a total value of $215,858.00. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Cubic in the 2nd quarter worth approximately $282,000. Profund Advisors LLC increased its position in Cubic by 21.4% in the 1st quarter. Profund Advisors LLC now owns 4,452 shares of the scientific and technical instruments company’s stock worth $283,000 after buying an additional 786 shares during the period. LPL Financial LLC increased its position in Cubic by 19.7% in the 1st quarter. LPL Financial LLC now owns 4,904 shares of the scientific and technical instruments company’s stock worth $312,000 after buying an additional 808 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Cubic in the 2nd quarter worth approximately $340,000. Finally, Aperio Group LLC increased its position in Cubic by 69.9% in the 2nd quarter. Aperio Group LLC now owns 7,932 shares of the scientific and technical instruments company’s stock worth $509,000 after buying an additional 3,262 shares during the period. 97.02% of the stock is currently owned by institutional investors.
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 four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).
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