Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, July 19th.
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. “
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC restated a “buy” rating and set a $52.00 price target (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, one has assigned a hold rating and three have assigned a buy rating to the company. Cubic Corporation currently has a consensus rating of “Hold” and an average target price of $54.00.
Cubic Corporation (CUB) opened at 47.35 on Wednesday. The firm’s 50-day moving average is $46.82 and its 200-day moving average is $49.01. The stock’s market capitalization is $1.28 billion. Cubic Corporation has a 12-month low of $39.50 and a 12-month high of $55.65.
Cubic Corporation (NYSE:CUB) last issued its quarterly earnings results 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 the consensus estimate of $365.04 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. Cubic Corporation’s revenue was down 6.1% compared to the same quarter last year. Analysts predict that Cubic Corporation will post $0.18 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in CUB. Comerica Bank boosted its stake in Cubic Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 26,639 shares of the scientific and technical instruments company’s stock valued at $1,283,000 after buying an additional 1,448 shares during the period. State Street Corp boosted its stake in 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. Envestnet Asset Management Inc. boosted its stake in Cubic Corporation by 104.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,052 shares of the scientific and technical instruments company’s stock valued at $147,000 after buying an additional 1,559 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Cubic Corporation by 29.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 8,000 shares of the scientific and technical instruments company’s stock valued at $384,000 after buying an additional 1,800 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Cubic Corporation by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,440 shares of the scientific and technical instruments company’s stock valued at $644,000 after buying an additional 810 shares during the period. 89.51% of the stock is currently owned by institutional investors.
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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