Cubic Corporation (CUB) is Initiated by Canaccord Genuity to Buy, Price Target at $48

Cubic Corporation (CUB) was Initiated by Canaccord Genuity to “Buy” and the brokerage firm has set the Price Target at $48. Canaccord Genuity advised their investors in a research report released on Jun 8, 2016.

On the company’s financial health, Cubic Corporation reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.50. The company had revenue of $366.00 million for the quarter, compared to analysts expectations of $349.67 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Cubic Corporation opened for trading at $41.41 and hit $42.18 on the upside on Tuesday, eventually ending the session at $41.8, with a gain of 0.92% or 0.38 points. The heightened volatility saw the trading volume jump to 1,12,838 shares. Company has a market cap of $1,128 M.

In a different news, on Feb 25, 2016, Bruce G Blakley (director) purchased 200 shares at $33.92 per share price. According to the SEC, on Feb 22, 2016, Bradley H Feldmann (CEO) purchased 3,050 shares at $33.37 per share price. On Feb 18, 2016, John H Jr Warner (director) purchased 3,000 shares at $32.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates in three segments: Cubic Transportation Systems (CTS) Mission Support Services (MSS) and Cubic Defense Systems (CDS). As of the September 30 2013 (fiscal 2013) the Company’s CTS business accounted for approximately 38%; MSS and CDS accounted for approximately 62%. CTS specialize in the design development production installation maintenance and operation of automated fare payment and revenue management infrastructure and technologies for transit operators.

Cubic Corporation

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