BidaskClub cut shares of Cubic Corporation (NYSE:CUB) from a buy rating to a hold rating in a research note published on Friday morning.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $52.00 target price (down from $55.00) on shares of Cubic Corporation in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Cubic Corporation from a buy rating to a hold rating in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Cubic Corporation currently has an average rating of Hold and a consensus target price of $54.00.

Shares of Cubic Corporation (CUB) opened at 47.65 on Friday. The stock has a 50 day moving average of $46.84 and a 200-day moving average of $49.03. The company’s market capitalization is $1.29 billion. Cubic Corporation has a 1-year low of $39.50 and a 1-year high of $55.65.

Cubic Corporation (NYSE:CUB) last issued its earnings results on Monday, May 8th. The scientific and technical instruments company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by $0.06. Cubic Corporation had a negative return on equity of 0.78% and a negative net margin of 0.37%. The firm had revenue of $343.71 million during the quarter, compared to analysts’ expectations of $365.04 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts forecast that Cubic Corporation will post $0.18 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $145,000 after buying an additional 60 shares during 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 worth $843,000 after buying an additional 157 shares during 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 worth $539,000 after buying an additional 200 shares during 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 worth $686,000 after buying an additional 200 shares during 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 worth $106,000 after buying an additional 204 shares during the last quarter. 89.51% of the stock is currently owned by institutional investors.

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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