Artisan Partners Limited Partnership acquired a new position in Cubic Corporation (NYSE:CUB) during the fourth quarter, Holdings Channel reports. The fund acquired 207,332 shares of the company’s stock, valued at approximately $9,942,000.
Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its position in Cubic Corporation by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the company’s stock worth $129,000 after buying an additional 399 shares in the last quarter. Legal & General Group Plc boosted its position in Cubic Corporation by 3.0% in the second quarter. Legal & General Group Plc now owns 5,014 shares of the company’s stock worth $199,000 after buying an additional 144 shares in the last quarter. Chesley Taft & Associates LLC purchased a new position in Cubic Corporation during the third quarter worth approximately $203,000. 1st Global Advisors Inc. purchased a new position in Cubic Corporation during the third quarter worth approximately $213,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Cubic Corporation by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the company’s stock worth $227,000 after buying an additional 80 shares in the last quarter. 90.32% of the stock is owned by institutional investors and hedge funds.
Cubic Corporation (NYSE:CUB) traded down 0.19% during midday trading on Tuesday, hitting $51.50. 45,545 shares of the stock traded hands. Cubic Corporation has a 12-month low of $31.39 and a 12-month high of $52.40. The company’s 50-day moving average is $48.17 and its 200 day moving average is $46.43. The firm has a market cap of $1.39 billion, a P/E ratio of 858.33 and a beta of 0.97.
Cubic Corporation (NYSE:CUB) last released its quarterly earnings data on Thursday, February 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. Cubic Corporation had a return on equity of 0.61% and a net margin of 0.29%. The company had revenue of $334.70 million for the quarter, compared to analyst estimates of $330.36 million. During the same period in the previous year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Cubic Corporation will post $0.61 EPS for the current fiscal year.
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Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective (up from $48.00) on shares of Cubic Corporation in a research report on Friday. Zacks Investment Research raised shares of Cubic Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 24th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective on shares of Cubic Corporation in a research report on Thursday, January 5th. Finally, Drexel Hamilton assumed coverage on shares of Cubic Corporation in a research report on Thursday, December 22nd. They issued a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Cubic Corporation has an average rating of “Buy” and an average price target of $53.67.
About Cubic Corporation
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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