Cubic (CUB) Given New $62.00 Price Target at Needham & Company LLC

Cubic (NYSE:CUB) had its price objective hoisted by Needham & Company LLC from $56.00 to $62.00 in a report published on Tuesday, November 21st, MarketBeat Ratings reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

CUB has been the subject of several other reports. Credit Suisse Group reaffirmed an outperform rating and set a $58.00 price objective (up from $49.00) on shares of Cubic in a report on Wednesday, October 11th. Zacks Investment Research downgraded shares of Cubic from a hold rating to a strong sell rating in a report on Monday, November 20th. Canaccord Genuity reissued a buy rating and issued a $55.00 price target (up from $50.00) on shares of Cubic in a report on Monday, September 25th. BidaskClub downgraded shares of Cubic from a buy rating to a hold rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co raised shares of Cubic from a neutral rating to an overweight rating and set a $53.00 price target for the company in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $60.17.

Cubic (NYSE:CUB) traded down $0.25 during trading on Tuesday, reaching $60.50. 226,375 shares of the company’s stock traded hands, compared to its average volume of 141,220. The company has a current ratio of 1.65, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. Cubic has a 1 year low of $39.58 and a 1 year high of $64.95.

Cubic (NYSE:CUB) last posted its earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.35. The company had revenue of $445.60 million during the quarter, compared to the consensus estimate of $436.76 million. Cubic had a negative net margin of 0.75% and a negative return on equity of 1.66%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.28) earnings per share. equities research analysts forecast that Cubic will post 1.72 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of Cubic during the 3rd quarter worth about $106,000. Bessemer Group Inc. acquired a new stake in shares of Cubic during the 2nd quarter worth about $125,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Cubic during the 3rd quarter worth about $159,000. SG Americas Securities LLC acquired a new stake in shares of Cubic during the 2nd quarter worth about $208,000. Finally, State of Alaska Department of Revenue increased its position in shares of Cubic by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock worth $227,000 after purchasing an additional 2,169 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.

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About Cubic

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).

Analyst Recommendations for Cubic (NYSE:CUB)

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