Cubic (NYSE:CUB) has been given a $85.00 price objective by investment analysts at Drexel Hamilton in a report issued on Thursday. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Drexel Hamilton’s target price suggests a potential upside of 24.47% from the company’s current price.
A number of other analysts also recently commented on CUB. ValuEngine upgraded Cubic from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 8th. Canaccord Genuity raised their price objective on Cubic from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research downgraded Cubic from a “hold” rating to a “strong sell” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cubic presently has an average rating of “Buy” and an average price target of $74.83.
Shares of NYSE:CUB opened at $68.29 on Thursday. Cubic has a twelve month low of $52.25 and a twelve month high of $77.35. The company has a market cap of $1.74 billion, a P/E ratio of 106.70 and a beta of 1.13. The company has a quick ratio of 1.76, a current ratio of 2.22 and a debt-to-equity ratio of 0.33.
In related news, Director David F. Melcher bought 1,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $74.50 per share, with a total value of $74,500.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $149,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CUB. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Cubic in the 3rd quarter worth approximately $17,899,000. BlackRock Inc. raised its holdings in shares of Cubic by 4.1% in the 2nd quarter. BlackRock Inc. now owns 4,347,887 shares of the scientific and technical instruments company’s stock worth $279,135,000 after buying an additional 172,274 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Cubic in the 2nd quarter worth approximately $9,245,000. Pier Capital LLC raised its holdings in shares of Cubic by 94.1% in the 2nd quarter. Pier Capital LLC now owns 102,586 shares of the scientific and technical instruments company’s stock worth $6,586,000 after buying an additional 49,731 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Cubic by 16.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 342,216 shares of the scientific and technical instruments company’s stock worth $21,970,000 after buying an additional 48,417 shares in the last quarter. 96.24% of the stock is owned by institutional investors and hedge funds.
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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