Cubic (NYSE:CUB) had its target price cut by Needham & Company LLC from $80.00 to $77.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

CUB has been the subject of several other research reports. Zacks Investment Research downgraded Cubic from a hold rating to a strong sell rating in a research note on Monday, August 13th. JPMorgan Chase & Co. raised Cubic from a neutral rating to an overweight rating and lowered their target price for the stock from $75.00 to $73.00 in a research note on Friday, November 30th. Drexel Hamilton set a $85.00 target price on Cubic and gave the stock a buy rating in a research note on Thursday, November 15th. Canaccord Genuity boosted their target price on Cubic from $76.00 to $78.00 and gave the stock a buy rating in a research note on Thursday, August 9th. Finally, ValuEngine raised Cubic from a buy rating to a strong-buy rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $74.50.

Shares of NYSE CUB opened at $56.13 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 1.78. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 87.70 and a beta of 1.09. Cubic has a 12 month low of $52.25 and a 12 month high of $77.35.

Cubic (NYSE:CUB) last issued its earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.27). The business had revenue of $379.71 million for the quarter, compared to analyst estimates of $360.27 million. Cubic had a return on equity of 2.79% and a net margin of 0.95%. During the same period in the previous year, the firm posted $0.49 EPS. On average, sell-side analysts predict that Cubic will post 2.4 earnings per share for the current year.

In other news, Director David F. Melcher purchased 1,000 shares of Cubic stock in a transaction dated Friday, September 14th. The shares were bought at an average cost of $74.50 per share, for a total transaction of $74,500.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $149,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CUB. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Cubic during the third quarter worth about $17,899,000. BlackRock Inc. grew its holdings in shares of Cubic by 4.1% during the second quarter. BlackRock Inc. now owns 4,347,887 shares of the scientific and technical instruments company’s stock worth $279,135,000 after purchasing an additional 172,274 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Cubic during the second quarter worth about $9,245,000. Vanguard Group Inc. grew its holdings in shares of Cubic by 2.8% during the third quarter. Vanguard Group Inc. now owns 2,466,422 shares of the scientific and technical instruments company’s stock worth $180,171,000 after purchasing an additional 67,512 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Cubic by 92.3% during the third quarter. Morgan Stanley now owns 119,215 shares of the scientific and technical instruments company’s stock worth $8,709,000 after purchasing an additional 57,205 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

Cubic Company Profile

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 four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).

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Analyst Recommendations for Cubic (NYSE:CUB)

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