Cubic (NYSE:CUB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $74.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.67% from the company’s previous close.
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. “
CUB has been the subject of several other reports. Canaccord Genuity reduced their price objective on Cubic from $74.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 5th. Raymond James upgraded Cubic from an “outperform” rating to a “strong-buy” rating and set a $82.00 price objective for the company in a report on Monday, May 13th. Finally, ValuEngine upgraded Cubic from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $74.58.
Shares of NYSE:CUB opened at $65.68 on Wednesday. Cubic has a 1-year low of $50.61 and a 1-year high of $77.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 1.12. The firm’s fifty day moving average is $65.29. The company has a market capitalization of $2.07 billion, a P/E ratio of 102.63 and a beta of 1.19.
Cubic (NYSE:CUB) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.44. Cubic had a return on equity of 3.44% and a net margin of 0.62%. The company had revenue of $337.30 million during the quarter, compared to the consensus estimate of $326.88 million. During the same period last year, the company earned ($0.12) EPS. Cubic’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts expect that Cubic will post 3.27 EPS for the current year.
In other news, Director John H. Warner, Jr. bought 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $60.25 per share, with a total value of $301,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John H. Warner, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $59.50 per share, for a total transaction of $148,750.00. The disclosure for this purchase can be found here. Insiders purchased a total of 12,371 shares of company stock valued at $742,609 over the last quarter. 0.51% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in Cubic in the first quarter worth about $39,000. Penserra Capital Management LLC boosted its position in Cubic by 50.0% in the first quarter. Penserra Capital Management LLC now owns 822 shares of the scientific and technical instruments company’s stock worth $46,000 after purchasing an additional 274 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Cubic by 21.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,731 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cubic by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,389 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 583 shares during the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new position in Cubic in the second quarter worth about $205,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.
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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