Northern Trust Corp Sells 22,737 Shares of Cubic Co. (CUB)
Northern Trust Corp lessened its stake in Cubic Co. (NYSE:CUB) by 3.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 618,616 shares of the scientific and technical instruments company’s stock after selling 22,737 shares during the quarter. Northern Trust Corp owned 2.27% of Cubic worth $39,715,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC boosted its stake in shares of Cubic by 4,493.2% in the 1st quarter. Summit Trail Advisors LLC now owns 210,045 shares of the scientific and technical instruments company’s stock valued at $210,000 after buying an additional 205,472 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Cubic during the second quarter worth approximately $282,000. Profund Advisors LLC lifted its stake in Cubic by 21.4% during the first quarter. Profund Advisors LLC now owns 4,452 shares of the scientific and technical instruments company’s stock worth $283,000 after purchasing an additional 786 shares during the last quarter. LPL Financial LLC lifted its stake in Cubic by 19.7% during the first quarter. LPL Financial LLC now owns 4,904 shares of the scientific and technical instruments company’s stock worth $312,000 after purchasing an additional 808 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cubic during the second quarter worth approximately $340,000. Institutional investors and hedge funds own 97.02% of the company’s stock.
CUB has been the subject of several recent analyst reports. Canaccord Genuity boosted their target price on Cubic from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Drexel Hamilton restated a “buy” rating and set a $85.00 target price on shares of Cubic in a research note on Thursday, August 30th. Zacks Investment Research upgraded Cubic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine upgraded Cubic from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 8th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $73.17.
CUB stock opened at $69.22 on Thursday. The company has a market cap of $1.99 billion, a P/E ratio of -168.83 and a beta of 1.04. Cubic Co. has a fifty-two week low of $51.70 and a fifty-two week high of $77.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.22 and a quick ratio of 1.76.
Cubic (NYSE:CUB) last posted its earnings results on Wednesday, August 8th. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The business had revenue of $296.21 million for the quarter, compared to analysts’ expectations of $280.33 million. Cubic had a return on equity of 1.54% and a net margin of 0.57%. Cubic’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.89) EPS. As a group, sell-side analysts anticipate that Cubic Co. will post 1.1 earnings per share for the current fiscal year.
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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