Cubic Corp. (NYSE:CUB) had its price objective reduced by stock analysts at Needham & Company LLC from $48.00 to $45.00 in a report released on Friday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 11.11% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $54.00 price objective on shares of Cubic Corp. in a report on Thursday, October 6th. Zacks Investment Research upgraded Cubic Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.00.
Shares of Cubic Corp. (NYSE:CUB) opened at 40.50 on Friday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 37.57 and a beta of 1.12. Cubic Corp. has a 1-year low of $30.11 and a 1-year high of $49.79. The firm’s 50-day moving average is $46.16 and its 200 day moving average is $42.66.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. Cubic Corp. had a return on equity of 5.60% and a net margin of 1.97%. The firm earned $375.20 million during the quarter, compared to analyst estimates of $387.41 million. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Cubic Corp. will post $0.92 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. PineBridge Investments L.P. boosted its stake in Cubic Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 2,771 shares of the company’s stock valued at $111,000 after buying an additional 101 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Cubic Corp. by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the company’s stock valued at $129,000 after buying an additional 399 shares in the last quarter. Bank of Montreal Can acquired a new stake in Cubic Corp. during the second quarter valued at $130,000. Mason Street Advisors LLC acquired a new stake in Cubic Corp. during the second quarter valued at $172,000. Finally, Chesley Taft & Associates LLC acquired a new stake in Cubic Corp. during the third quarter valued at $203,000. 88.15% of the stock is owned by institutional investors.
Cubic Corp. Company Profile
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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