Cubic Corporation (CUB) is Reiterated by Needham to Buy, Lowers Price Target to $ 45

Cubic Corporation (CUB) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 45 from a previous price target of $48 . Needham advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on Cubic Corporation. Needham Upgraded Cubic Corporation on Aug 1, 2016 to ” Buy”, Price Target of the shares are set at $48.

On the company’s financial health, Cubic Corporation reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.28. The company had revenue of $375.20 million for the quarter, compared to analysts expectations of $384.78 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Cubic Corporation closed down -1.6 points or -3.46% at $44.64 with 1,92,328 shares getting traded on Tuesday. Post opening the session at $46.04, the shares hit an intraday low of $44.31 and an intraday high of $46.14 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 23, 2016, Janice M. Hamby (director) purchased 200 shares at $47.60 per share price. According to the SEC, on Feb 25, 2016, Bruce G Blakley (director) purchased 200 shares at $33.92 per share price. On Feb 22, 2016, Bradley H Feldmann (CEO) purchased 3,050 shares at $33.37 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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