Cubic (CUB) Stock Rating Reaffirmed by Raymond James Financial

Cubic (NYSE:CUB)‘s stock had its “outperform” rating reissued by research analysts at Raymond James Financial in a research report issued to clients and investors on Friday. They currently have a $62.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $64.00. Raymond James Financial’s price objective suggests a potential upside of 2.23% from the company’s previous close.

CUB has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $56.00 price objective (up from $48.00) on shares of Cubic in a research note on Thursday, September 28th. TheStreet raised shares of Cubic from a “c” rating to a “b-” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised shares of Cubic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Canaccord Genuity reissued a “buy” rating and issued a $64.00 price objective (up from $55.00) on shares of Cubic in a research note on Tuesday, November 21st. Finally, JPMorgan Chase & Co. cut shares of Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research note on Monday, November 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.00.

Shares of Cubic (NYSE CUB) opened at $60.65 on Friday. Cubic has a twelve month low of $39.58 and a twelve month high of $64.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.42.

Cubic (NYSE:CUB) last announced its earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.35. Cubic had a negative net margin of 0.75% and a negative return on equity of 1.66%. The business had revenue of $445.60 million during the quarter, compared to analysts’ expectations of $436.76 million. During the same period in the prior year, the company earned ($0.28) earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. equities analysts expect that Cubic will post 1.64 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its stake in Cubic by 3.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 183,490 shares of the scientific and technical instruments company’s stock valued at $8,496,000 after acquiring an additional 6,592 shares in the last quarter. Legal & General Group Plc grew its stake in Cubic by 8.6% during the second quarter. Legal & General Group Plc now owns 48,158 shares of the scientific and technical instruments company’s stock valued at $2,230,000 after acquiring an additional 3,831 shares in the last quarter. Swiss National Bank grew its stake in Cubic by 13.2% during the second quarter. Swiss National Bank now owns 42,900 shares of the scientific and technical instruments company’s stock valued at $1,986,000 after acquiring an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cubic by 20.6% during the second quarter. JPMorgan Chase & Co. now owns 12,091 shares of the scientific and technical instruments company’s stock valued at $560,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Cubic by 7.8% during the second quarter. Alliancebernstein L.P. now owns 31,614 shares of the scientific and technical instruments company’s stock valued at $1,464,000 after acquiring an additional 2,300 shares in the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

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Cubic Company Profile

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 (NYSE:CUB)

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