Wells Fargo & Company MN increased its position in shares of Cubic Co. (NYSE:CUB) by 12.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 144,635 shares of the scientific and technical instruments company’s stock after buying an additional 15,718 shares during the quarter. Wells Fargo & Company MN’s holdings in Cubic were worth $9,325,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new position in Cubic in the first quarter worth approximately $39,000. Penserra Capital Management LLC grew its position in Cubic by 50.0% in the first quarter. Penserra Capital Management LLC now owns 822 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 274 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cubic by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,389 shares of the scientific and technical instruments company’s stock worth $134,000 after buying an additional 583 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new position in Cubic in the second quarter worth approximately $205,000. Finally, Hayden Royal LLC acquired a new position in Cubic in the second quarter worth approximately $298,000. 97.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on CUB shares. Zacks Investment Research cut shares of Cubic from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of Cubic from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. SunTrust Banks started coverage on shares of Cubic in a research report on Thursday, September 5th. They set a “hold” rating and a $74.00 price objective on the stock. Finally, TheStreet upgraded shares of Cubic from a “c” rating to a “b-” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.50.
NYSE CUB traded up $0.84 on Friday, hitting $71.10. 2,159 shares of the stock were exchanged, compared to its average volume of 266,523. Cubic Co. has a 52-week low of $50.61 and a 52-week high of $76.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.07. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 111.13 and a beta of 1.18. The company’s 50-day moving average price is $68.29 and its two-hundred day moving average price is $61.81.
Cubic (NYSE:CUB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Cubic had a net margin of 1.83% and a return on equity of 5.37%. The business had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $345.61 million. During the same period in the previous year, the company posted $0.48 EPS. Cubic’s revenue was up 29.2% on a year-over-year basis. Equities analysts predict that Cubic Co. will post 3.18 EPS for the current fiscal year.
The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were paid a $0.135 dividend. The ex-dividend date was Thursday, August 29th. Cubic’s payout ratio is presently 42.19%.
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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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