Cubic Corporation (NYSE:CUB) had its price objective reduced by Canaccord Genuity from $60.00 to $50.00 in a report issued on Friday morning. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also weighed in on CUB. Zacks Investment Research lowered shares of Cubic Corporation from a buy rating to a hold rating in a report on Wednesday, April 12th. Needham & Company LLC restated a buy rating and issued a $52.00 price objective (down from $55.00) on shares of Cubic Corporation in a report on Tuesday, May 9th. Finally, BidaskClub upgraded shares of Cubic Corporation from a hold rating to a buy rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $54.50.

Cubic Corporation (CUB) traded down 8.96% during trading on Friday, reaching $42.65. 467,207 shares of the company’s stock traded hands. The company’s market cap is $1.16 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 $46.84 and a 200-day moving average price of $49.02.

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 for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.86. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.71%. The firm had revenue of $361.87 million during the quarter, compared to analyst estimates of $383.47 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Cubic Corporation’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Cubic Corporation will post $0.18 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CUB. Invictus RG bought a new position in Cubic Corporation during the first quarter worth approximately $231,000. Wellington Management Group LLP increased its position in Cubic Corporation by 1.1% in the first quarter. Wellington Management Group LLP now owns 2,143,979 shares of the scientific and technical instruments company’s stock worth $113,202,000 after buying an additional 23,380 shares during the period. Swiss National Bank increased its position in Cubic Corporation by 1.9% in the first quarter. Swiss National Bank now owns 37,900 shares of the scientific and technical instruments company’s stock worth $2,001,000 after buying an additional 700 shares during the period. State of Tennessee Treasury Department increased its position in Cubic Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 23,429 shares of the scientific and technical instruments company’s stock worth $1,237,000 after buying an additional 3,536 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in Cubic Corporation during the first quarter worth approximately $115,000. 89.51% of the stock is currently owned by hedge funds and other institutional investors.

About Cubic Corporation

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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