Parallel Advisors LLC acquired a new position in shares of Cubic Co. (NYSE:CUB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 695 shares of the scientific and technical instruments company’s stock, valued at approximately $39,000.

Other hedge funds also recently added to or reduced their stakes in the company. Moors & Cabot Inc. acquired a new position in shares of Cubic in the 1st quarter valued at $568,000. Rice Hall James & Associates LLC boosted its position in shares of Cubic by 78.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 282,593 shares of the scientific and technical instruments company’s stock worth $15,893,000 after purchasing an additional 123,930 shares in the last quarter. Supplemental Annuity Collective Trust of NJ boosted its position in shares of Cubic by 20.0% during the 1st quarter. Supplemental Annuity Collective Trust of NJ now owns 18,000 shares of the scientific and technical instruments company’s stock worth $1,012,000 after purchasing an additional 3,000 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cubic by 0.5% during the 1st quarter. Arizona State Retirement System now owns 44,209 shares of the scientific and technical instruments company’s stock worth $2,486,000 after purchasing an additional 218 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cubic by 32.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,389 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 583 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

In related news, Director John H. Warner, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $60.25 per share, with a total value of $301,250.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John H. Warner, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were bought at an average cost of $59.50 per share, with a total value of $148,750.00. The disclosure for this purchase can be found here. Insiders purchased a total of 8,655 shares of company stock valued at $517,912 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

Cubic stock opened at $62.97 on Thursday. Cubic Co. has a 52 week low of $50.61 and a 52 week high of $77.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.35. The stock has a market capitalization of $1.95 billion, a P/E ratio of 98.39 and a beta of 1.20.

Cubic (NYSE:CUB) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.44. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The business had revenue of $337.30 million for the quarter, compared to analyst estimates of $326.88 million. During the same period in the previous year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts forecast that Cubic Co. will post 3.34 EPS for the current fiscal year.

CUB has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Cubic from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Drexel Hamilton restated a “buy” rating and set a $85.00 target price on shares of Cubic in a research report on Thursday, February 7th. ValuEngine lowered shares of Cubic from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Citigroup assumed coverage on shares of Cubic in a research report on Friday, February 15th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Canaccord Genuity decreased their price objective on shares of Cubic from $74.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $73.72.

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Cubic Profile

Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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