Cubic Corporation (NYSE:CUB)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday. They currently have a $48.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $52.00. Needham & Company LLC’s target price points to a potential upside of 19.40% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Cubic Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. BidaskClub cut shares of Cubic Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine cut shares of Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Canaccord Genuity lowered their price objective on shares of Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $53.50.

Shares of Cubic Corporation (NYSE CUB) traded down 1.47% during mid-day trading on Wednesday, hitting $40.20. The company had a trading volume of 162,016 shares. The firm has a 50-day moving average price of $46.69 and a 200 day moving average price of $48.94. Cubic Corporation has a 52-week low of $39.50 and a 52-week high of $55.65. The firm’s market capitalization is $1.09 billion.

Cubic Corporation (NYSE:CUB) last posted its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share 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 for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Analysts expect that Cubic Corporation will post ($0.58) earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of Cubic Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,750 shares of the scientific and technical instruments company’s stock valued at $145,000 after buying an additional 60 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Cubic Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 18,210 shares of the scientific and technical instruments company’s stock valued at $843,000 after buying an additional 157 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Cubic Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the scientific and technical instruments company’s stock valued at $539,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cubic Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 12,988 shares of the scientific and technical instruments company’s stock valued at $686,000 after buying an additional 200 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position in shares of Cubic Corporation by 11.3% in the first quarter. Meadow Creek Investment Management LLC now owns 2,006 shares of the scientific and technical instruments company’s stock valued at $106,000 after buying an additional 204 shares in the last quarter. 90.69% of the stock is 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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