Cubic Co. (NYSE:CUB) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $74.67.
Several brokerages have recently issued reports on CUB. Zacks Investment Research cut shares of Cubic from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. ValuEngine upgraded shares of Cubic from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Canaccord Genuity lowered their target price on shares of Cubic from $74.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Raymond James upgraded shares of Cubic from an “outperform” rating to a “strong-buy” rating and set a $82.00 target price for the company in a report on Monday, May 13th.
Shares of Cubic stock opened at $67.35 on Friday. The firm has a fifty day moving average of $61.43. Cubic has a 12-month low of $50.61 and a 12-month high of $77.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.35. The firm has a market cap of $2.09 billion, a PE ratio of 105.23 and a beta of 1.19.
Cubic (NYSE:CUB) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.44. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The business had revenue of $337.30 million during the quarter, compared to analysts’ expectations of $326.88 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts expect that Cubic will post 3.27 earnings per share for the current year.
In other Cubic news, Director Edwin A. Guiles purchased 2,716 shares of Cubic stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $59.80 per share, for a total transaction of $162,416.80. Following the transaction, the director now directly owns 14,022 shares in the company, valued at $838,515.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Warner, Jr. purchased 2,500 shares of Cubic stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $59.50 per share, with a total value of $148,750.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 12,371 shares of company stock valued at $742,609. 0.51% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CUB. BlackRock Inc. raised its position in Cubic by 14.0% in the 4th quarter. BlackRock Inc. now owns 5,097,799 shares of the scientific and technical instruments company’s stock valued at $273,956,000 after purchasing an additional 626,175 shares during the last quarter. FMR LLC raised its position in Cubic by 25,700.1% during the 4th quarter. FMR LLC now owns 234,007 shares of the scientific and technical instruments company’s stock worth $12,576,000 after buying an additional 233,100 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Cubic by 5,021.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 215,735 shares of the scientific and technical instruments company’s stock worth $12,132,000 after buying an additional 211,523 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Cubic by 81.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 432,769 shares of the scientific and technical instruments company’s stock worth $24,339,000 after buying an additional 194,917 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new position in Cubic during the 1st quarter worth $10,361,000. Hedge funds and other institutional investors own 94.66% of the company’s stock.
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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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