After J.P. Morgan and Needham gave Cubic (NYSE: CUB) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Kenneth Herbert maintained a Buy rating on Cubic yesterday and set a price target of $55.00. The company’s shares closed last Tuesday at $41.31.
According to TipRanks.com, Herbert is a 5-star analyst with an average return of 10.8% and a 59.7% success rate. Herbert covers the Consumer Goods sector, focusing on stocks such as Rada Electronics Industries, Aerojet Rocketdyne Holdings, and CPI Aerostructures.
Currently, the analyst consensus on Cubic is a Strong Buy with an average price target of $63.00, representing a 43.5% upside. In a report issued on March 20, Needham also maintained a Buy rating on the stock with a $55.00 price target.
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The company has a one-year high of $75.20 and a one-year low of $30.87. Currently, Cubic has an average volume of 313.2K.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CUB in relation to earlier this year.
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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. The Cubic Transportation Systems segment designs, produces, installs, and services electronics revenue collection systems for mass transit projects, including railways and buses. The Cubic Mission Solutions segment provides C4ISR capabilities for defense, intelligence, security and commercial missions. The Cubic Global Defense Systems segment consists of customized military range instrumentation; laser based training systems, and virtual simulation systems. The company was founded by Walter J. Zable in 1949 and headquartered in San Diego, CA.
