Chicago Bridge & Iron Co. (NYSE:CBI) was upgraded by Vetr from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $38.16 price target on the stock. Vetr‘s price target would indicate a potential upside of 18.92% from the stock’s previous close.

Several other brokerages have also commented on CBI. MKM Partners restated a “buy” rating and set a $42.00 price target on shares of Chicago Bridge & Iron Co. in a research note on Wednesday, September 28th. Macquarie decreased their price objective on shares of Chicago Bridge & Iron Co. from $25.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 15th. Zacks Investment Research raised shares of Chicago Bridge & Iron Co. from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Chicago Bridge & Iron Co. in a report on Monday, August 1st. Finally, Credit Suisse Group AG decreased their price objective on shares of Chicago Bridge & Iron Co. from $46.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, September 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Chicago Bridge & Iron Co. currently has a consensus rating of “Buy” and an average price target of $39.51.

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

Chicago Bridge & Iron Co. (NYSE:CBI) opened at 32.09 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 11.70 and a beta of 2.09. Chicago Bridge & Iron Co. has a one year low of $26.12 and a one year high of $42.87. The firm has a 50-day moving average of $29.83 and a 200-day moving average of $32.66.

Chicago Bridge & Iron Co. (NYSE:CBI) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Chicago Bridge & Iron Co. had a net margin of 2.51% and a return on equity of 22.54%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business posted $1.54 EPS. Chicago Bridge & Iron Co.’s quarterly revenue was down 16.4% on a year-over-year basis. Analysts anticipate that Chicago Bridge & Iron Co. will post $4.82 EPS for the current year.

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In other news, insider Patrick K. Mullen sold 18,567 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $28.99, for a total transaction of $538,257.33. Following the completion of the transaction, the insider now directly owns 86,655 shares of the company’s stock, valued at approximately $2,512,128.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of Chicago Bridge & Iron Co. by 238.6% in the second quarter. Point72 Asset Management L.P. now owns 1,324,800 shares of the company’s stock valued at $45,878,000 after buying an additional 933,500 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Chicago Bridge & Iron Co. during the third quarter valued at about $13,767,000. Morgan Stanley increased its position in shares of Chicago Bridge & Iron Co. by 31.9% in the third quarter. Morgan Stanley now owns 1,553,102 shares of the company’s stock valued at $43,535,000 after buying an additional 375,774 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Chicago Bridge & Iron Co. by 312.6% in the second quarter. Nuveen Asset Management LLC now owns 449,957 shares of the company’s stock valued at $15,582,000 after buying an additional 340,891 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Chicago Bridge & Iron Co. by 12.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,708,163 shares of the company’s stock valued at $75,910,000 after buying an additional 292,225 shares in the last quarter. 65.38% of the stock is owned by institutional investors.

Chicago Bridge & Iron Co. Company Profile

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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