Chicago Bridge & Iron Co. (NYSE:CBI) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They presently have a $33.63 price objective on the stock. Vetr‘s target price suggests a potential upside of 8.31% from the company’s previous close.

Several other equities analysts also recently commented on CBI. MKM Partners dropped their price objective on shares of Chicago Bridge & Iron Co. from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Sunday, July 24th. Standpoint Research restated a “buy” rating on shares of Chicago Bridge & Iron Co. in a research report on Wednesday, July 27th. Zacks Investment Research cut shares of Chicago Bridge & Iron Co. from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Citigroup Inc. cut shares of Chicago Bridge & Iron Co. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $48.00 to $38.00 in a research report on Monday, July 25th. Finally, Macquarie decreased their price target on shares of Chicago Bridge & Iron Co. from $25.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Chicago Bridge & Iron Co. has an average rating of “Hold” and an average target price of $39.05.

Analyst Recommendations for Chicago Bridge & Iron Co. (NYSE:CBI)

Chicago Bridge & Iron Co. (NYSE:CBI) opened at 31.05 on Wednesday. The stock’s 50 day moving average is $28.40 and its 200-day moving average is $33.30. The company has a market capitalization of $3.11 billion, a PE ratio of 11.32 and a beta of 2.09. Chicago Bridge & Iron Co. has a 12 month low of $26.12 and a 12 month high of $43.17.

Chicago Bridge & Iron Co. (NYSE:CBI) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The business earned $2.78 billion during the quarter, compared to the consensus estimate of $2.75 billion. Chicago Bridge & Iron Co. had a net margin of 2.51% and a return on equity of 22.54%. The firm’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, analysts expect that Chicago Bridge & Iron Co. will post $4.82 EPS for the current year.

In other Chicago Bridge & Iron Co. news, insider Patrick K. Mullen sold 18,567 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $28.99, for a total value of $538,257.33. Following the transaction, the insider now directly owns 86,655 shares of the company’s stock, valued at $2,512,128.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip K. Asherman sold 53,400 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $34.06, for a total transaction of $1,818,804.00. Following the completion of the transaction, the insider now directly owns 743,250 shares in the company, valued at $25,315,095. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBI. Cedar Wealth Management LLC raised its position in Chicago Bridge & Iron Co. by 6.4% in the third quarter. Cedar Wealth Management LLC now owns 3,800 shares of the company’s stock worth $107,000 after buying an additional 230 shares during the period. Acrospire Investment Management LLC raised its position in Chicago Bridge & Iron Co. by 131.7% in the third quarter. Acrospire Investment Management LLC now owns 4,398 shares of the company’s stock worth $123,000 after buying an additional 2,500 shares during the period. Edge Wealth Management LLC acquired a new position in Chicago Bridge & Iron Co. during the third quarter worth $140,000. Pinkerton Retirement Specialists LLC acquired a new position in Chicago Bridge & Iron Co. during the second quarter worth $143,000. Finally, SG Americas Securities LLC raised its position in Chicago Bridge & Iron Co. by 17.4% in the third quarter. SG Americas Securities LLC now owns 5,291 shares of the company’s stock worth $148,000 after buying an additional 786 shares during the period. 65.69% of the stock is currently owned by hedge funds and other institutional investors.

About Chicago Bridge & Iron Co.

Chicago Bridge & Iron Company N.V. (CB&I) provides a range of services to customers in the energy infrastructure market across the world. The Company provides various services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

5 Day Chart for NYSE:CBI

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