Cubic Co. (NYSE:CUB) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,770,000 shares, a growth of 7.8% from the August 30th total of 2,570,000 shares. Based on an average trading volume of 286,000 shares, the short-interest ratio is currently 9.7 days. Approximately 8.9% of the company’s stock are short sold.
Cubic stock traded down $0.96 during trading hours on Thursday, hitting $71.61. The stock had a trading volume of 4,793 shares, compared to its average volume of 261,775. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.16 billion, a P/E ratio of 111.98 and a beta of 1.20. Cubic has a 12-month low of $50.61 and a 12-month high of $74.84. The stock’s 50-day moving average price is $69.76 and its 200-day moving average price is $63.99.
Cubic (NYSE:CUB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $382.70 million during the quarter, compared to analysts’ expectations of $345.61 million. Cubic had a net margin of 1.83% and a return on equity of 5.37%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, research analysts expect that Cubic will post 3.18 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Phocas Financial Corp. purchased a new position in Cubic in the second quarter worth about $4,271,000. Zacks Investment Management purchased a new position in Cubic in the second quarter worth about $1,836,000. Rice Hall James & Associates LLC raised its holdings in Cubic by 8.8% in the second quarter. Rice Hall James & Associates LLC now owns 307,576 shares of the scientific and technical instruments company’s stock worth $19,833,000 after buying an additional 24,983 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in Cubic by 29.5% in the first quarter. Marshall Wace North America L.P. now owns 58,935 shares of the scientific and technical instruments company’s stock worth $3,315,000 after buying an additional 13,409 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its holdings in Cubic by 453.8% in the second quarter. Virginia Retirement Systems ET AL now owns 21,600 shares of the scientific and technical instruments company’s stock worth $1,393,000 after buying an additional 17,700 shares during the last quarter. 97.59% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on CUB. SunTrust Banks began coverage on shares of Cubic in a research note on Thursday, September 5th. They set a “hold” rating and a $74.00 price objective on the stock. TheStreet raised shares of Cubic from a “c” rating to a “b-” rating in a research note on Thursday, August 8th. Zacks Investment Research raised shares of Cubic from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, ValuEngine raised shares of Cubic from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cubic currently has a consensus rating of “Buy” and a consensus price target of $74.50.
Cubic Company Profile
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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