Cubic Corporation (CUB) Given “Buy” Rating at Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Cubic Corporation (NYSE:CUB) in a research note issued to investors on Tuesday morning. They currently have a $64.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $55.00.
CUB has been the topic of a number of other research reports. ValuEngine upgraded shares of Cubic Corporation from a sell rating to a hold rating in a report on Wednesday, September 20th. Raymond James Financial, Inc. upgraded shares of Cubic Corporation from a market perform rating to a strong-buy rating and boosted their target price for the company from $53.00 to $60.00 in a report on Friday, September 22nd. Needham & Company LLC reaffirmed a buy rating and issued a $56.00 price target (up previously from $48.00) on shares of Cubic Corporation in a research report on Thursday, September 28th. Zacks Investment Research lowered Cubic Corporation from a hold rating to a strong sell rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co raised Cubic Corporation from a neutral rating to an overweight rating and set a $53.00 price target for the company in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $59.17.
Shares of Cubic Corporation (NYSE:CUB) opened at $60.75 on Tuesday. Cubic Corporation has a fifty-two week low of $39.58 and a fifty-two week high of $64.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.41 and a current ratio of 1.71.
Cubic Corporation (NYSE:CUB) last announced its earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.35. Cubic Corporation had a negative net margin of 0.75% and a negative return on equity of 1.67%. The firm had revenue of $445.60 million for the quarter, compared to analysts’ expectations of $436.76 million. During the same quarter in the previous year, the business posted ($0.28) EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. research analysts expect that Cubic Corporation will post 2.02 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Cubic Corporation in the 3rd quarter worth about $106,000. Bessemer Group Inc. purchased a new position in shares of Cubic Corporation in the 2nd quarter worth about $125,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cubic Corporation in the 3rd quarter worth about $159,000. SG Americas Securities LLC purchased a new position in shares of Cubic Corporation in the 2nd quarter worth about $208,000. Finally, State of Alaska Department of Revenue increased its position in shares of Cubic Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock valued at $227,000 after purchasing an additional 2,169 shares during the last quarter. 86.52% of the stock is owned by hedge funds and other 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).
Receive News & Ratings for Cubic Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cubic Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.