Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. BidaskClub raised shares of Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective (down from $55.00) on shares of Cubic Corporation in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.00.
Cubic Corporation (NYSE CUB) opened at 47.75 on Wednesday. The stock’s 50 day moving average is $46.67 and its 200-day moving average is $49.04. Cubic Corporation has a 52-week low of $39.50 and a 52-week high of $55.65. The company’s market capitalization is $1.29 billion.
Cubic Corporation (NYSE:CUB) last released its quarterly earnings data on Monday, May 8th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.06. Cubic Corporation had a negative net margin of 0.37% and a negative return on equity of 0.78%. The company had revenue of $343.71 million for the quarter, compared to analysts’ expectations of $365.04 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts predict that Cubic Corporation will post $0.18 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Cubic Corporation by 26.6% in the fourth quarter. State Street Corp now owns 697,714 shares of the scientific and technical instruments company’s stock valued at $33,460,000 after buying an additional 146,497 shares during the period. Swiss National Bank raised its stake in shares of Cubic Corporation by 1.9% in the first quarter. Swiss National Bank now owns 37,900 shares of the scientific and technical instruments company’s stock valued at $2,001,000 after buying an additional 700 shares during the period. State of Tennessee Treasury Department raised its stake in shares of Cubic Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 23,429 shares of the scientific and technical instruments company’s stock valued at $1,237,000 after buying an additional 3,536 shares during the period. Invictus RG acquired a new stake in shares of Cubic Corporation during the first quarter valued at about $231,000. Finally, Formidable Asset Management LLC raised its stake in shares of Cubic Corporation by 10.6% in the first quarter. Formidable Asset Management LLC now owns 18,163 shares of the scientific and technical instruments company’s stock valued at $953,000 after buying an additional 1,745 shares during the period. 88.58% of the stock is owned by hedge funds and other institutional investors.
Cubic Corporation 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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