Cubic Corporation (NYSE:CUB)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $56.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $48.00. Needham & Company LLC’s price objective indicates a potential upside of 9.80% from the company’s previous close.

A number of other research analysts also recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price (up from $50.00) on shares of Cubic Corporation in a research report on Monday, September 25th. BidaskClub cut shares of Cubic Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. J P Morgan Chase & Co upgraded shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Thursday, August 10th. ValuEngine downgraded shares of Cubic Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Cubic Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.67.

Cubic Corporation (CUB) opened at 51.00 on Thursday. The firm’s 50-day moving average is $43.32 and its 200-day moving average is $47.36. The company’s market capitalization is $1.38 billion. Cubic Corporation has a 12 month low of $39.50 and a 12 month high of $55.65.

Cubic Corporation (NYSE:CUB) last released its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.86). The firm had revenue of $361.87 million for the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Equities analysts anticipate that Cubic Corporation will post ($0.58) EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in Cubic Corporation by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 14,761 shares of the scientific and technical instruments company’s stock worth $683,000 after buying an additional 125 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Cubic Corporation during the second quarter worth $250,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Cubic Corporation by 25.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,094 shares of the scientific and technical instruments company’s stock worth $732,000 after buying an additional 3,267 shares during the period. State Street Corp boosted its stake in Cubic Corporation by 4.2% during the second quarter. State Street Corp now owns 770,513 shares of the scientific and technical instruments company’s stock worth $35,676,000 after buying an additional 31,315 shares during the period. Finally, Voya Investment Management LLC boosted its stake in Cubic Corporation by 20.5% during the second quarter. Voya Investment Management LLC now owns 11,044 shares of the scientific and technical instruments company’s stock worth $511,000 after buying an additional 1,876 shares during the period. Institutional investors own 88.77% of the company’s stock.

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).

Analyst Recommendations for Cubic Corporation (NYSE:CUB)

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