Cubic Corporation (NYSE:CUB)‘s stock had its “outperform” rating restated by stock analysts at Credit Suisse Group in a report released on Wednesday. They currently have a $58.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $49.00. Credit Suisse Group’s target price would indicate a potential upside of 10.27% from the stock’s previous close.
CUB has been the topic of several other research reports. Canaccord Genuity restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Cubic Corporation in a report on Monday, September 25th. Zacks Investment Research cut shares of Cubic Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co upgraded shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Thursday, August 10th. Raymond James Financial, Inc. raised their target price on shares of Cubic Corporation and gave the stock a “buy” rating in a report on Friday, September 22nd. Finally, ValuEngine upgraded shares of Cubic Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.67.
Shares of Cubic Corporation (NYSE CUB) opened at 52.60 on Wednesday. The company’s market capitalization is $1.43 billion. Cubic Corporation has a 1-year low of $39.58 and a 1-year high of $55.65. The stock has a 50 day moving average of $47.36 and a 200-day moving average of $47.32.
Cubic Corporation (NYSE:CUB) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.86). Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm had revenue of $361.87 million during the quarter, compared to the consensus estimate of $383.47 million. During the same quarter in the prior year, the business posted $0.17 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that Cubic Corporation will post ($0.62) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in CUB. Ameritas Investment Partners Inc. bought a new stake in Cubic Corporation in the first quarter valued at $115,000. Bessemer Group Inc. bought a new stake in Cubic Corporation in the second quarter valued at $125,000. SG Americas Securities LLC bought a new stake in Cubic Corporation in the second quarter valued at $208,000. State of Alaska Department of Revenue boosted its holdings in Cubic Corporation by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock valued at $227,000 after acquiring an additional 2,169 shares in the last quarter. Finally, Invictus RG bought a new stake in Cubic Corporation in the first quarter valued at $231,000. Institutional investors and hedge funds own 88.77% of the company’s stock.
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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