Needham & Company LLC Lowers Cubic Corp. (CUB) Price Target to $45.00
Cubic Corp. (NYSE:CUB) had its target price decreased by equities research analysts at Needham & Company LLC from $48.00 to $45.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 11.11% from the company’s previous close.
Several other equities research analysts have also recently issued reports on CUB. Credit Suisse Group AG reissued a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. Canaccord Genuity reissued a “buy” rating and issued a $50.00 target price on shares of Cubic Corp. in a research report on Thursday, August 11th. Finally, Zacks Investment Research raised shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cubic Corp. presently has an average rating of “Buy” and an average price target of $47.00.
Cubic Corp. (NYSE:CUB) opened at 40.50 on Friday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 37.57 and a beta of 1.12. The company has a 50 day moving average of $46.16 and a 200-day moving average of $42.66. Cubic Corp. has a 52-week low of $30.11 and a 52-week high of $49.79.
Cubic Corp. (NYSE:CUB) last released its earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.12. Cubic Corp. had a return on equity of 5.60% and a net margin of 1.97%. The company earned $375.20 million during the quarter, compared to analyst estimates of $387.41 million. During the same period in the prior year, the business posted $0.33 earnings per share. Cubic Corp.’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Cubic Corp. will post $0.92 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust purchased a new position in Cubic Corp. during the second quarter worth approximately $303,000. Bank of Montreal Can purchased a new position in Cubic Corp. during the second quarter worth approximately $130,000. Capstone Asset Management Co. boosted its position in Cubic Corp. by 3.7% in the second quarter. Capstone Asset Management Co. now owns 7,346 shares of the company’s stock worth $295,000 after buying an additional 260 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Cubic Corp. by 64.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,145 shares of the company’s stock worth $367,000 after buying an additional 3,581 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Cubic Corp. by 5.3% in the first quarter. Wellington Management Group LLP now owns 2,123,757 shares of the company’s stock worth $84,865,000 after buying an additional 107,776 shares during the last quarter. 88.15% of the stock is currently owned by institutional investors and hedge funds.
Cubic Corp. Company Profile
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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