After J.P. Morgan and Canaccord Genuity gave Cubic (NYSE: CUB) a Buy rating last month, the company received another Buy, this time from Needham. Analyst James Ricchiuti maintained a Buy rating on Cubic today and set a price target of $55.00. The company’s shares closed last Monday at $38.50, close to its 52-week low of $35.61.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 9.2% and a 55.3% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Benchmark Electronics, and Teledyne Technologies.
Currently, the analyst consensus on Cubic is a Strong Buy with an average price target of $63.00, representing a 57.1% upside. In a report issued on March 10, J.P. Morgan also upgraded the stock to Buy with a $67.00 price target.
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Cubic’s market cap is currently $1.2B and has a P/E ratio of 31.83. The company has a Price to Book ratio of 1.27.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock.
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Cubic Corp. is a technology provider of integrated solutions. The company designs, integrates and operates systems, products and services focused in the transportation, defense C4ISR and training markets. It operates through the following segments: Cubic Transportation Systems, Cubic Mission Solutions, and Cubic Global Defense Systems.
