Cubic Co. (CUB) Holdings Boosted by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC raised its position in Cubic Co. (NYSE:CUB) by 78.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,593 shares of the scientific and technical instruments company’s stock after buying an additional 123,930 shares during the period. Rice Hall James & Associates LLC’s holdings in Cubic were worth $15,893,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its position in Cubic by 16.2% in the fourth quarter. New York State Common Retirement Fund now owns 137,738 shares of the scientific and technical instruments company’s stock valued at $7,402,000 after buying an additional 19,253 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cubic by 12.7% in the fourth quarter. Principal Financial Group Inc. now owns 231,916 shares of the scientific and technical instruments company’s stock valued at $12,463,000 after buying an additional 26,166 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Cubic in the fourth quarter valued at about $437,000. SG Capital Management LLC acquired a new position in Cubic in the first quarter valued at about $9,882,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Cubic by 68.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,150,000 shares of the scientific and technical instruments company’s stock valued at $61,801,000 after buying an additional 468,000 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Cubic from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research lowered shares of Cubic from a “hold” rating to a “sell” rating in a research report on Wednesday. Canaccord Genuity dropped their target price on shares of Cubic from $74.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Citigroup began coverage on shares of Cubic in a research note on Friday, February 15th. They issued a “buy” rating and a $75.00 target price for the company. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 target price on shares of Cubic in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.01.
Cubic (NYSE:CUB) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.44. Cubic had a net margin of 1.23% and a return on equity of 2.30%. The company had revenue of $337.30 million during the quarter, compared to the consensus estimate of $326.88 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that Cubic Co. will post 1.23 earnings per share for the current year.
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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).
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