AQR Capital Management LLC Sells 1,323 Shares of Cubic Co. (NYSE:CUB)

AQR Capital Management LLC cut its position in Cubic Co. (NYSE:CUB) by 24.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,104 shares of the scientific and technical instruments company’s stock after selling 1,323 shares during the quarter. AQR Capital Management LLC’s holdings in Cubic were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CUB. Tower Research Capital LLC TRC bought a new position in Cubic in the second quarter valued at about $95,000. Gofen & Glossberg LLC IL bought a new position in Cubic in the second quarter valued at about $205,000. Holocene Advisors LP bought a new position in Cubic in the second quarter valued at about $284,000. Bank of Montreal Can raised its position in Cubic by 240.7% in the second quarter. Bank of Montreal Can now owns 4,433 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 3,132 shares during the last quarter. Finally, Hayden Royal LLC bought a new position in Cubic in the second quarter valued at about $298,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

CUB has been the subject of several research reports. SunTrust Banks initiated coverage on Cubic in a research report on Thursday, September 5th. They issued a “hold” rating and a $74.00 target price for the company. TheStreet upgraded Cubic from a “c” rating to a “b-” rating in a research report on Thursday, August 8th. ValuEngine upgraded Cubic from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded Cubic from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Cubic currently has a consensus rating of “Buy” and an average price target of $74.50.

Shares of CUB stock opened at $68.80 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 107.50 and a beta of 1.20. The stock has a 50-day moving average of $69.66 and a 200-day moving average of $63.61. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Cubic Co. has a 1-year low of $50.61 and a 1-year high of $74.02.

Cubic (NYSE:CUB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $382.70 million during the quarter, compared to analysts’ expectations of $345.61 million. Cubic had a return on equity of 5.37% and a net margin of 1.83%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Sell-side analysts forecast that Cubic Co. will post 3.18 earnings per share for the current year.

About Cubic

Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).

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Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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