Sterling Capital Management LLC Buys 20,249 Shares of Cubic Co. (CUB)

Sterling Capital Management LLC raised its holdings in shares of Cubic Co. (NYSE:CUB) by 112.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,258 shares of the scientific and technical instruments company’s stock after purchasing an additional 20,249 shares during the quarter. Sterling Capital Management LLC owned 0.14% of Cubic worth $1,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CUB. Quantbot Technologies LP acquired a new stake in Cubic during the 3rd quarter valued at approximately $106,000. Bessemer Group Inc. acquired a new stake in Cubic during the 2nd quarter valued at approximately $125,000. Cubist Systematic Strategies LLC acquired a new stake in Cubic during the 3rd quarter valued at approximately $159,000. SG Americas Securities LLC bought a new position in Cubic during the 2nd quarter worth approximately $208,000. Finally, Piedmont Investment Advisors LLC bought a new position in Cubic during the 2nd quarter worth approximately $250,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

A number of research analysts have commented on the company. TheStreet raised Cubic from a “c” rating to a “b-” rating in a report on Tuesday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price (up previously from $48.00) on shares of Cubic in a report on Thursday, September 28th. Raymond James Financial raised Cubic from a “market perform” rating to a “strong-buy” rating and increased their target price for the stock from $53.00 to $60.00 in a report on Friday, September 22nd. ValuEngine raised Cubic from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $64.00 target price (up previously from $55.00) on shares of Cubic in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.17.

Cubic Co. (NYSE CUB) opened at $60.35 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.65 and a debt-to-equity ratio of 0.29. Cubic Co. has a 1-year low of $39.58 and a 1-year high of $64.95.

Cubic (NYSE:CUB) last released its earnings results on Monday, November 20th. The scientific and technical instruments company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.35. The company had revenue of $445.60 million for the quarter, compared to the consensus estimate of $436.76 million. Cubic had a negative return on equity of 1.66% and a negative net margin of 0.75%. Cubic’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) EPS. sell-side analysts anticipate that Cubic Co. will post 1.72 earnings per share for the current year.

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About Cubic

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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Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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