Cubic (NYSE:CUB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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 topic of several other reports. TheStreet lowered Cubic from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. Needham & Company LLC increased their price objective on Cubic from $56.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Canaccord Genuity reissued a “buy” rating and issued a $64.00 price objective (up from $55.00) on shares of Cubic in a report on Tuesday, November 21st. Raymond James Financial reissued an “outperform” rating and issued a $62.00 price objective (down from $64.00) on shares of Cubic in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. lowered Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a report on Monday, November 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Cubic presently has a consensus rating of “Buy” and an average target price of $61.00.
Cubic (NYSE:CUB) last announced its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.33). Cubic had a negative net margin of 1.21% and a negative return on equity of 1.27%. The business had revenue of $340.70 million for the quarter, compared to analyst estimates of $338.21 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. equities analysts predict that Cubic will post 1.18 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Intrepid Capital Management Inc. increased its holdings in shares of Cubic by 7.6% in the third quarter. Intrepid Capital Management Inc. now owns 14,413 shares of the scientific and technical instruments company’s stock valued at $735,000 after purchasing an additional 1,015 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Cubic by 31.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 4,522 shares of the scientific and technical instruments company’s stock valued at $267,000 after purchasing an additional 1,088 shares during the period. American International Group Inc. increased its holdings in shares of Cubic by 5.8% in the third quarter. American International Group Inc. now owns 19,960 shares of the scientific and technical instruments company’s stock valued at $1,018,000 after purchasing an additional 1,090 shares during the period. California Public Employees Retirement System increased its holdings in shares of Cubic by 2.9% in the third quarter. California Public Employees Retirement System now owns 48,867 shares of the scientific and technical instruments company’s stock valued at $2,492,000 after purchasing an additional 1,367 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Cubic by 2.5% in the third quarter. Rhumbline Advisers now owns 58,685 shares of the scientific and technical instruments company’s stock worth $2,993,000 after buying an additional 1,436 shares during the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.
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Cubic Company Profile
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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