Cubic (CUB) Receives “Buy” Rating from Canaccord Genuity

Cubic (NYSE:CUB)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a research report issued on Tuesday, November 21st, Marketbeat reports. They presently have a $64.00 target price on the scientific and technical instruments company’s stock, up from their prior target price of $55.00. Canaccord Genuity’s price target indicates a potential upside of 5.79% from the stock’s current price.

CUB has been the subject of several other reports. Credit Suisse Group restated an “outperform” rating and issued a $58.00 price objective (up from $49.00) on shares of Cubic in a research note on Wednesday, October 11th. Zacks Investment Research raised Cubic from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co raised Cubic from a “neutral” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Thursday, August 10th. Raymond James Financial lifted their price target on Cubic and gave the stock a “buy” rating in a research note on Friday, September 22nd. Finally, ValuEngine raised Cubic from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.17.

Cubic (CUB) traded down $0.25 on Tuesday, hitting $60.50. The stock had a trading volume of 226,375 shares, compared to its average volume of 141,220. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.42 and a current ratio of 1.65. Cubic has a fifty-two week low of $39.58 and a fifty-two week high of $64.95.

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

Several hedge funds have recently bought and sold shares of the stock. Cortina Asset Management LLC grew its stake in Cubic by 79.5% during the 3rd quarter. Cortina Asset Management LLC now owns 367,109 shares of the scientific and technical instruments company’s stock worth $18,723,000 after purchasing an additional 162,572 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Cubic by 14.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,191,000 shares of the scientific and technical instruments company’s stock worth $55,143,000 after acquiring an additional 151,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cubic by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,730,599 shares of the scientific and technical instruments company’s stock worth $80,126,000 after acquiring an additional 106,660 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cubic by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock worth $113,820,000 after acquiring an additional 92,168 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of Cubic during the 3rd quarter worth about $4,014,000. Hedge funds and other institutional investors 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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