Zacks Investment Research upgraded shares of Cubic Corporation (NYSE:CUB) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $58.00 price target on the stock.

According to Zacks, “Cubic Corporation is the parent company of two major business segments: defense and transportation. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support services and defense electronics. Cubic Transportation Systems designs and manufactures automatic fare collection systems for public transit authorities. Cubic Transportation Systems designs, manufactures and integrates automatic fare collection systems for public transit projects throughout the world. This includes rail, bus and parking lot systems. The company supplies contactless smart cards; magnetic stripe cards; device software; and transit hardware including gates, ticket machines and card readers. Cubic Defense Applications provides realistic live combat training systems for military forces as well as virtual training systems, constructive simulation support, force modernization, battle command training and education and engineering & technical support. “

CUB has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a buy rating and issued a $48.00 target price on shares of Cubic Corporation in a report on Thursday, January 5th. Needham & Company LLC reaffirmed a buy rating and issued a $55.00 target price (up previously from $48.00) on shares of Cubic Corporation in a report on Friday, February 10th. Finally, Drexel Hamilton initiated coverage on Cubic Corporation in a report on Thursday, December 22nd. They issued a buy rating and a $58.00 target price on the stock. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $54.75.

Shares of Cubic Corporation (NYSE:CUB) opened at 52.05 on Tuesday. Cubic Corporation has a 52-week low of $33.18 and a 52-week high of $52.40. The stock’s 50 day moving average price is $48.46 and its 200-day moving average price is $46.59. The company has a market cap of $1.41 billion, a P/E ratio of 349.33 and a beta of 0.97.

Cubic Corporation (NYSE:CUB) last issued its quarterly earnings results on Thursday, February 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.05. The company had revenue of $334.70 million for the quarter, compared to analyst estimates of $330.36 million. Cubic Corporation had a return on equity of 0.61% and a net margin of 0.29%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) EPS. Equities analysts expect that Cubic Corporation will post $0.61 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in Cubic Corporation by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the company’s stock valued at $227,000 after buying an additional 80 shares during the period. Formidable Asset Management LLC raised its position in Cubic Corporation by 0.6% in the fourth quarter. Formidable Asset Management LLC now owns 16,418 shares of the company’s stock valued at $787,000 after buying an additional 94 shares during the period. Swiss National Bank raised its position in Cubic Corporation by 0.3% in the third quarter. Swiss National Bank now owns 37,200 shares of the company’s stock valued at $1,741,000 after buying an additional 100 shares during the period. Legal & General Group Plc raised its position in Cubic Corporation by 3.0% in the second quarter. Legal & General Group Plc now owns 5,014 shares of the company’s stock valued at $199,000 after buying an additional 144 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its position in Cubic Corporation by 2.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 7,692 shares of the company’s stock valued at $360,000 after buying an additional 151 shares during the period. 90.32% of the stock is 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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