Needham Upgrades Cubic Corporation to Buy

Brokerage firm Needham Upgrades its rating on Cubic Corporation(NYSE:CUB). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Needham was issued on Aug 1, 2016.

In a different note, Canaccord Genuity said it Initiates Coverage on Cubic Corporation, according to a research note issued on Jun 8, 2016. The shares have been rated ‘Buy’ by the firm.

Cubic Corporation (CUB) made into the market gainers list on Mondays trading session with the shares advancing 0.68% or 0.3 points. Due to strong positive momentum, the stock ended at $44.33, which is also near the day’s high of $44.46. The stock began the session at $43.8 and the volume stood at 1,69,361 shares. The 52-week high of the shares is $49.785 and the 52 week low is $30.11. The company has a current market capitalization of $1,197 M and it has 2,69,91,636 shares in outstanding.

Cubic Corporation(CUB) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $366.02M. Analysts had an estimated revenue of $349.67M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Feb 25, 2016, Bruce G Blakley (director) purchased 200 shares at $33.92 per share price.Also, 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.

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