State of Alaska Department of Revenue Has $1.69 Million Holdings in Cubic Co. (NYSE:CUB)

State of Alaska Department of Revenue increased its position in shares of Cubic Co. (NYSE:CUB) by 145.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,948 shares of the scientific and technical instruments company’s stock after acquiring an additional 14,192 shares during the quarter. State of Alaska Department of Revenue owned 0.08% of Cubic worth $1,686,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CUB. Ladenburg Thalmann Financial Services Inc. grew its position in Cubic by 79.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 482 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 213 shares in the last quarter. Point72 Hong Kong Ltd grew its position in Cubic by 69.2% during the second quarter. Point72 Hong Kong Ltd now owns 1,464 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 599 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Cubic during the second quarter valued at approximately $95,000. Gofen & Glossberg LLC IL purchased a new position in Cubic during the second quarter valued at approximately $205,000. Finally, Holocene Advisors LP purchased a new position in Cubic during the second quarter valued at approximately $284,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

CUB stock opened at $68.75 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 107.42 and a beta of 1.20. Cubic Co. has a 12 month low of $50.61 and a 12 month high of $74.02. The firm has a 50 day moving average of $69.71 and a two-hundred day moving average of $63.46.

Cubic (NYSE:CUB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $345.61 million. Cubic had a net margin of 1.83% and a return on equity of 5.37%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, research analysts expect that Cubic Co. will post 3.18 EPS for the current fiscal year.

A number of brokerages recently commented on CUB. Zacks Investment Research raised shares of Cubic from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised shares of Cubic from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. SunTrust Banks began coverage on shares of Cubic in a research report on Thursday, September 5th. They set a “hold” rating and a $74.00 price objective on the stock. Finally, TheStreet raised shares of Cubic from a “c” rating to a “b-” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $74.50.

About Cubic

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).

See Also: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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