Zacks Investment Research Lowers Cubic Corporation (CUB) to Strong Sell
Zacks Investment Research downgraded shares of Cubic Corporation (NYSE:CUB) from a hold rating to a strong sell rating in a research note issued to investors on Monday.
According to Zacks, “Cubic Corporation is the parent company of two major business segments: defense and transportation. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support services and defense electronics. Cubic Transportation Systems designs and manufactures automatic fare collection systems for public transit authorities. Cubic Transportation Systems designs, manufactures and integrates automatic fare collection systems for public transit projects throughout the world. This includes rail, bus and parking lot systems. The company supplies contactless smart cards; magnetic stripe cards; device software; and transit hardware including gates, ticket machines and card readers. Cubic Defense Applications provides realistic live combat training systems for military forces as well as virtual training systems, constructive simulation support, force modernization, battle command training and education and engineering & technical support. “
Other research analysts have also issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $50.00 target price on shares of Cubic Corporation in a report on Thursday, August 10th. Needham & Company LLC reiterated a buy rating and issued a $56.00 target price (up from $48.00) on shares of Cubic Corporation in a report on Thursday, September 28th. Raymond James Financial, Inc. lifted their target price on Cubic Corporation and gave the company a buy rating in a report on Friday, September 22nd. BidaskClub lowered Cubic Corporation from a buy rating to a hold rating in a report on Friday, July 28th. Finally, ValuEngine upgraded Cubic Corporation from a sell rating to a hold rating in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $59.17.
Cubic Corporation (NYSE:CUB) opened at $62.00 on Monday. Cubic Corporation has a fifty-two week low of $39.58 and a fifty-two week high of $64.95. The company has a quick ratio of 1.41, a current ratio of 1.65 and a debt-to-equity ratio of 0.29.
Cubic Corporation (NYSE:CUB) last released its earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.35. The firm had revenue of $445.60 million during the quarter, compared to analyst estimates of $436.76 million. Cubic Corporation had a negative return on equity of 1.66% and a negative net margin of 0.75%. Cubic Corporation’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted ($0.28) earnings per share. sell-side analysts predict that Cubic Corporation will post 1.72 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in Cubic Corporation during the 3rd quarter worth about $106,000. Bessemer Group Inc. purchased a new stake in Cubic Corporation during the 2nd quarter worth about $125,000. Cubist Systematic Strategies LLC purchased a new stake in Cubic Corporation during the 3rd quarter worth about $159,000. SG Americas Securities LLC purchased a new stake in Cubic Corporation during the 2nd quarter worth about $208,000. Finally, State of Alaska Department of Revenue lifted its holdings in 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 worth $227,000 after buying an additional 2,169 shares during the last quarter. 86.52% of the stock is 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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