Cubic (NYSE:CUB) Price Target Cut to $76.00

Cubic (NYSE:CUB) had its price target cut by research analysts at Needham & Company LLC from $78.00 to $76.00 in a report released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 11.68% from the company’s current price.

CUB has been the subject of a number of other reports. JPMorgan Chase & Co. cut Cubic from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $67.00 in a report on Wednesday, November 27th. SunTrust Banks raised Cubic from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $75.00 in a report on Wednesday, January 8th. Zacks Investment Research raised Cubic from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, ValuEngine cut Cubic from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $75.50.

CUB opened at $68.05 on Wednesday. The business’s fifty day moving average is $63.90 and its two-hundred day moving average is $67.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.37. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 21.74 and a beta of 1.12. Cubic has a one year low of $53.08 and a one year high of $75.20.

Cubic (NYSE:CUB) last posted its earnings results on Wednesday, November 20th. The scientific and technical instruments company reported $1.86 EPS for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.08). The firm had revenue of $471.20 million for the quarter, compared to analysts’ expectations of $440.34 million. Cubic had a return on equity of 6.98% and a net margin of 3.32%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, analysts predict that Cubic will post 3.43 EPS for the current fiscal year.

In other Cubic news, Director Maureen Breakiron-Evans bought 1,665 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $59.96 per share, for a total transaction of $99,833.40. Following the completion of the purchase, the director now owns 3,406 shares of the company’s stock, valued at approximately $204,223.76. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bradley H. Feldmann bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $63.26 per share, with a total value of $63,260.00. Following the completion of the purchase, the chief executive officer now directly owns 71,880 shares of the company’s stock, valued at approximately $4,547,128.80. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,065 shares of company stock valued at $246,789. Insiders own 0.51% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in Cubic by 79.2% in 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 during the last quarter. Point72 Asset Management L.P. increased its stake in Cubic by 400.0% in the third quarter. Point72 Asset Management L.P. now owns 1,000 shares of the scientific and technical instruments company’s stock valued at $70,000 after purchasing an additional 800 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in Cubic by 69.2% in 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 during the last quarter. Tower Research Capital LLC TRC acquired a new position in Cubic in the second quarter valued at $95,000. Finally, Keybank National Association OH acquired a new position in Cubic in the third quarter valued at $239,000. Hedge funds and other institutional investors own 97.60% of the company’s stock.

Cubic Company 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).

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Analyst Recommendations for Cubic (NYSE:CUB)

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