Cubic Corporation (NYSE:CUB) was upgraded by stock analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, The Fly reports.

A number of other research firms also recently issued reports on CUB. Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price (down from $52.00) on shares of Cubic Corporation in a research report on Wednesday. Canaccord Genuity decreased their target price on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 4th. BidaskClub raised Cubic Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Cubic Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.50.

Cubic Corporation (CUB) opened at 40.20 on Thursday. The firm’s market capitalization is $1.09 billion. Cubic Corporation has a one year low of $39.50 and a one year high of $55.65. The firm has a 50-day moving average price of $46.31 and a 200-day moving average price of $48.82.

Cubic Corporation (NYSE:CUB) last issued its quarterly 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 business had revenue of $361.87 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.17 earnings per share. Analysts expect that Cubic Corporation will post ($0.58) EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in CUB. BlackRock Inc. increased its stake in Cubic Corporation by 45,983.5% in the first quarter. BlackRock Inc. now owns 3,781,155 shares of the scientific and technical instruments company’s stock worth $199,644,000 after buying an additional 3,772,950 shares in the last quarter. Vanguard Group Inc. increased its stake 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 buying an additional 92,168 shares in the last quarter. Wellington Management Group LLP increased its stake in Cubic Corporation by 1.1% in the first quarter. Wellington Management Group LLP now owns 2,143,979 shares of the scientific and technical instruments company’s stock worth $113,202,000 after buying an additional 23,380 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Cubic Corporation by 14.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,191,000 shares of the scientific and technical instruments company’s stock worth $55,143,000 after buying an additional 151,000 shares in the last quarter. Finally, State Street Corp increased its stake 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 buying an additional 41,484 shares in the last quarter. 90.69% of the stock is owned by institutional investors and hedge funds.

About Cubic Corporation

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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