California State Teachers Retirement System trimmed its stake in shares of Cubic Co. (NYSE:CUB) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,346 shares of the scientific and technical instruments company’s stock after selling 4,415 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Cubic worth $2,058,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CUB. Quantbot Technologies LP acquired a new position in Cubic during the 3rd quarter worth approximately $106,000. SG Americas Securities LLC acquired a new position in Cubic during the 2nd quarter worth approximately $208,000. Piedmont Investment Advisors LLC acquired a new position in Cubic during the 2nd quarter worth approximately $250,000. Martingale Asset Management L P acquired a new position in Cubic during the 2nd quarter worth approximately $255,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Cubic during the 3rd quarter worth approximately $272,000. Institutional investors and hedge funds own 90.55% of the company’s stock.
Cubic Co. (CUB) opened at $61.50 on Wednesday. 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 Co. has a 12-month low of $39.58 and a 12-month high of $64.95. The stock has a market cap of $1,685.51, a P/E ratio of -150.00 and a beta of 1.10.
A number of research firms recently issued reports on CUB. 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 report on Monday, November 27th. TheStreet upgraded shares of Cubic from a “c” rating to a “b-” rating in a research report on Tuesday, November 21st. Needham & Company LLC upped their price objective on shares of Cubic from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Canaccord Genuity reiterated a “buy” rating and set a $64.00 price objective (up from $55.00) on shares of Cubic in a research report on Tuesday, November 21st. Finally, Zacks Investment Research cut shares of Cubic from a “hold” rating to a “strong sell” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Cubic currently has an average rating of “Hold” and a consensus target price of $60.60.
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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