Raymond James Financial, Inc. Upgrades Cubic Corporation (CUB) to “Strong-Buy”

Cubic Corporation (NYSE:CUB) was upgraded by equities researchers at Raymond James Financial, Inc. from a “market perform” rating to a “strong-buy” rating in a research note issued on Friday. The firm presently has a $60.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $53.00. Raymond James Financial, Inc.’s target price suggests a potential upside of 16.28% from the company’s previous close.

A number of other brokerages have also issued reports on CUB. Zacks Investment Research lowered Cubic Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. BidaskClub upgraded Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded Cubic Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity lowered their price target on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.50.

Cubic Corporation (NYSE:CUB) opened at 51.60 on Friday. Cubic Corporation has a 1-year low of $39.50 and a 1-year high of $55.65. The stock’s market cap is $1.40 billion. The stock has a 50 day moving average price of $43.32 and a 200-day moving average price of $47.36.

Cubic Corporation (NYSE:CUB) last announced its quarterly earnings results 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). The firm had revenue of $361.87 million during 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 firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, equities analysts expect that Cubic Corporation will post ($0.58) EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC lifted its holdings in Cubic Corporation by 11.3% during the first quarter. Meadow Creek Investment Management LLC now owns 2,006 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 204 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Cubic Corporation during the first quarter worth $115,000. Bessemer Group Inc. purchased a new stake in Cubic Corporation during the second quarter worth $125,000. SG Americas Securities LLC purchased a new stake in Cubic Corporation during the second quarter worth $208,000. Finally, State of Alaska Department of Revenue lifted its holdings in Cubic Corporation by 78.9% during the second quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock worth $227,000 after buying an additional 2,169 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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