Cubic Stock Rating Reaffirmed by Needham & Company (CUB)

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Cubic (NYSE: CUB)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $53.00 price objective on the stock. Needham & Company’s target price would suggest a potential upside of 9.19% from the stock’s previous close.

Cubic (NYSE: CUB) traded up 1.10% on Tuesday, hitting $48.54. Cubic has a 1-year low of $40.61 and a 1-year high of $52.53. The stock’s 50-day moving average is currently $44.50. The company has a market cap of $1.298 billion and a price-to-earnings ratio of 14.70.

Cubic (NYSE: CUB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.35. The company had revenue of $364.30 million for the quarter, compared to the consensus estimate of $334.37 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Cubic will post $2.78 EPS for the current fiscal year.

A number of other firms have also recently commented on CUB. Analysts at JP Morgan Cazenove cut their price target on shares of Cubic from $56.00 to $53.50 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of Cubic from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, May 21st. Finally, analysts at Imperial Capital raised their price target on shares of Cubic from $54.00 to $56.00 in a research note to investors on Friday, May 3rd. They now have an “outperform” rating on the stock.

Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cubic has a consensus rating of “Hold” and an average price target of $49.20.

Cubic Corporation (NYSE: CUB) designs, develops, manufactures and installs products and replacement parts, which are mainly electronic in nature, such as equipment for use in customized military range instrumentation, training and applications systems, simulators, communications and surveillance systems, surveillance receivers, power amplifiers, and avionics systems and automated revenue collection systems, including contactless smart cards, passenger gates, central computer systems and ticket vending machines for mass transit networks, including rail systems, buses, and parking applications.

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