Cubic Corporation (NYSE:CUB) was upgraded by stock analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday.

A number of other research analysts have also weighed in on CUB. Zacks Investment Research lowered Cubic Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price (down from $55.00) on shares of Cubic Corporation in a report on Tuesday, May 9th. BidaskClub raised Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Canaccord Genuity decreased their target price on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Finally, ValuEngine lowered Cubic Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Cubic Corporation presently has a consensus rating of “Hold” and a consensus price target of $53.50.

Cubic Corporation (NYSE:CUB) opened at 40.20 on Thursday. Cubic Corporation has a one year low of $39.50 and a one year high of $55.65. The firm’s 50-day moving average price is $46.31 and its 200 day moving average price is $48.82. The firm’s market cap is $1.09 billion.

Cubic Corporation (NYSE:CUB) last announced its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.86. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The company had revenue of $361.87 million for the quarter, compared to the consensus estimate of $383.47 million. During the same quarter in the prior year, the company earned $0.17 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Cubic Corporation will post ($0.58) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Cubic Corporation during the fourth quarter worth $2,733,000. GW&K Investment Management LLC acquired a new position in Cubic Corporation during the first quarter worth $2,899,000. Bank of Montreal Can raised its position in Cubic Corporation by 16.3% in the first quarter. Bank of Montreal Can now owns 266,013 shares of the scientific and technical instruments company’s stock worth $14,046,000 after buying an additional 37,359 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Cubic Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the scientific and technical instruments company’s stock worth $539,000 after buying an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Cubic Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,750 shares of the scientific and technical instruments company’s stock worth $145,000 after buying an additional 60 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors and hedge funds.

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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