Needham & Company LLC Reiterates Buy Rating for Cubic Corporation (NYSE:CUB)

Cubic Corporation (NYSE:CUB)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday, August 9th. They currently have a $48.00 target price on the scientific and technical instruments company’s stock, down from their previous target price of $52.00. Needham & Company LLC’s price objective would indicate a potential upside of 13.34% from the stock’s previous close.

Several other equities analysts have also recently issued reports on CUB. Zacks Investment Research cut Cubic Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. BidaskClub upgraded Cubic Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Canaccord Genuity decreased their price objective on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, ValuEngine cut Cubic Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Cubic Corporation currently has an average rating of “Hold” and an average target price of $53.40.

Shares of Cubic Corporation (CUB) traded down 0.82% during mid-day trading on Wednesday, hitting $42.35. 159,364 shares of the stock were exchanged. The stock’s market cap is $1.15 billion. Cubic Corporation has a 12 month low of $39.50 and a 12 month high of $55.65. The company has a 50-day moving average price of $45.76 and a 200-day moving average price of $48.53.

Cubic Corporation (NYSE:CUB) last announced its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.86. The company 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 business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Equities analysts expect that Cubic Corporation will post ($0.58) earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC raised its position in Cubic Corporation by 11.3% in 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 last quarter. Ameritas Investment Partners Inc. bought a new position in Cubic Corporation during the first quarter worth about $115,000. Bessemer Group Inc. bought a new position in Cubic Corporation during the second quarter worth about $125,000. State of Alaska Department of Revenue raised its position in Cubic Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,750 shares of the scientific and technical instruments company’s stock worth $145,000 after buying an additional 60 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Cubic Corporation during the second quarter worth about $208,000. 88.93% of the stock is currently owned by institutional investors and hedge funds.

Cubic Corporation 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).

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