Cubic Corporation (NYSE:CUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.

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. “

Other research analysts also recently issued reports about the company. BidaskClub raised Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price (down previously from $55.00) on shares of Cubic Corporation in a research report on Tuesday, May 9th. Canaccord Genuity dropped their target price on shares of Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. Finally, ValuEngine cut shares of Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.50.

Cubic Corporation (CUB) traded up 2.93% during midday trading on Monday, hitting $43.90. The stock had a trading volume of 319,605 shares. The stock’s market cap is $1.19 billion. The company’s 50-day moving average price is $46.84 and its 200 day moving average price is $49.02. Cubic Corporation has a 12-month low of $39.50 and a 12-month high of $55.65.

Cubic Corporation (NYSE:CUB) last issued its quarterly earnings results 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. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The firm had revenue of $361.87 million for the quarter, compared to the consensus estimate of $383.47 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Cubic Corporation will post $0.18 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Cubic Corporation by 45,983.5% in the first quarter. BlackRock Inc. now owns 3,781,155 shares of the scientific and technical instruments company’s stock valued at $199,644,000 after buying an additional 3,772,950 shares in the last quarter. Vanguard Group Inc. raised its stake in Cubic Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock valued at $113,820,000 after buying an additional 92,168 shares in the last quarter. Wellington Management Group LLP raised its stake 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 valued at $113,202,000 after buying an additional 23,380 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Cubic Corporation by 14.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,191,000 shares of the scientific and technical instruments company’s stock valued at $55,143,000 after buying an additional 151,000 shares in the last quarter. Finally, State Street Corp raised its stake in Cubic Corporation by 5.9% in the first quarter. State Street Corp now owns 739,198 shares of the scientific and technical instruments company’s stock valued at $39,032,000 after buying an additional 41,484 shares in the last quarter. 90.69% of the stock is currently owned by institutional investors.

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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