Cubic (CUB) Trading Up 5.5%
Shares of Cubic Co. (NYSE:CUB) were up 5.5% during mid-day trading on Friday . The company traded as high as $57.55 and last traded at $57.00. Approximately 532,975 shares changed hands during mid-day trading, an increase of 270% from the average daily volume of 144,231 shares. The stock had previously closed at $54.05.
A number of analysts have recently issued reports on CUB shares. Zacks Investment Research cut Cubic from a “hold” rating to a “strong sell” rating in a research report on Monday, November 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $62.00 price objective (down from $64.00) on shares of Cubic in a research report on Friday, January 19th. JPMorgan Chase & Co. cut 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. Canaccord Genuity reaffirmed a “buy” rating and issued a $64.00 price objective (up from $55.00) on shares of Cubic in a research report on Tuesday, November 21st. Finally, Needham & Company LLC raised their price objective on Cubic from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.00.
The stock has a market cap of $1,550.00, a price-to-earnings ratio of -85.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.42.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Cubic by 1.3% during the 2nd quarter. BlackRock Inc. now owns 3,829,369 shares of the scientific and technical instruments company’s stock worth $177,300,000 after purchasing an additional 48,214 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cubic by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,783,929 shares of the scientific and technical instruments company’s stock valued at $90,980,000 after acquiring an additional 53,330 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Cubic by 3.5% in the 3rd quarter. Pzena Investment Management LLC now owns 946,046 shares of the scientific and technical instruments company’s stock valued at $48,248,000 after acquiring an additional 31,917 shares in the last quarter. State Street Corp raised its holdings in Cubic by 4.2% in the 2nd quarter. State Street Corp now owns 770,513 shares of the scientific and technical instruments company’s stock valued at $35,676,000 after acquiring an additional 31,315 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Cubic by 1.6% in the 2nd quarter. Northern Trust Corp now owns 635,897 shares of the scientific and technical instruments company’s stock valued at $29,441,000 after acquiring an additional 10,316 shares in the last quarter. 90.36% of the stock is owned by institutional investors and hedge funds.
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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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