Cubic (NYSE:CUB) was downgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports. The analysts noted that the move was a valuation call.
Several other brokerages have also recently commented on CUB. Raymond James reiterated an “outperform” rating and set a $62.00 price target (down from $64.00) on shares of Cubic in a research report on Friday, January 19th. Zacks Investment Research upgraded Cubic from a “strong sell” rating to a “strong-buy” rating and set a $74.00 price target for the company in a research report on Monday, May 7th. William Blair initiated coverage on Cubic in a report on Tuesday, May 8th. They issued an “outperform” rating for the company. Canaccord Genuity upped their target price on Cubic from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, April 20th. Finally, ValuEngine upgraded Cubic from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cubic has an average rating of “Buy” and a consensus price target of $65.83.
Shares of CUB opened at $70.70 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.85 and a quick ratio of 1.57. Cubic has a one year low of $39.58 and a one year high of $72.40. The company has a market cap of $1.93 billion, a P/E ratio of -172.44 and a beta of 0.95.
In related news, Director David F. Melcher bought 1,000 shares of the company’s stock in a transaction on Monday, May 7th. The stock was bought at an average cost of $64.45 per share, for a total transaction of $64,450.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $64,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Harrison sold 3,000 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $71.19, for a total value of $213,570.00. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cubic by 69.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,064 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 849 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Cubic by 981.1% in the 4th quarter. Advisor Group Inc. now owns 2,292 shares of the scientific and technical instruments company’s stock valued at $135,000 after purchasing an additional 2,080 shares during the last quarter. Miles Capital Inc. acquired a new position in shares of Cubic in the 1st quarter valued at $211,000. Gofen & Glossberg LLC IL acquired a new position in shares of Cubic in the 4th quarter valued at $205,000. Finally, Amalgamated Bank acquired a new position in shares of Cubic in the 4th quarter valued at $214,000. Institutional investors own 87.53% of the company’s stock.
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 four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).
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