Chicago Bridge & Iron (NYSE:CBI) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts also recently issued reports on CBI. BidaskClub upgraded Chicago Bridge & Iron from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Bank of America set a $10.00 price target on Chicago Bridge & Iron and gave the company a “sell” rating in a report on Wednesday, August 30th. ValuEngine downgraded Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Credit Suisse Group restated a “hold” rating and set a $13.00 price target on shares of Chicago Bridge & Iron in a report on Wednesday, September 13th. Finally, Vertical Research restated a “buy” rating and set a $20.00 price target on shares of Chicago Bridge & Iron in a report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.00.

Chicago Bridge & Iron (CBI) traded down $1.91 on Wednesday, reaching $16.01. The company’s stock had a trading volume of 19,002,000 shares, compared to its average volume of 3,724,086. Chicago Bridge & Iron has a twelve month low of $9.55 and a twelve month high of $36.15.

Chicago Bridge & Iron (NYSE:CBI) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.19). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.80 billion. Chicago Bridge & Iron had a negative return on equity of 10.86% and a negative net margin of 13.33%. Chicago Bridge & Iron’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. equities analysts forecast that Chicago Bridge & Iron will post -1.98 EPS for the current year.

In related news, EVP Daniel M. Mccarthy sold 7,500 shares of Chicago Bridge & Iron stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $16.29, for a total value of $122,175.00. Following the completion of the sale, the executive vice president now directly owns 104,964 shares in the company, valued at approximately $1,709,863.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBI. Aperio Group LLC increased its holdings in Chicago Bridge & Iron by 28.9% in the 2nd quarter. Aperio Group LLC now owns 17,221 shares of the construction company’s stock worth $340,000 after buying an additional 3,859 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Chicago Bridge & Iron by 29.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 570,839 shares of the construction company’s stock worth $11,263,000 after buying an additional 128,530 shares in the last quarter. Rhumbline Advisers increased its holdings in Chicago Bridge & Iron by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 122,535 shares of the construction company’s stock worth $2,418,000 after buying an additional 22,242 shares in the last quarter. SG Americas Securities LLC boosted its position in Chicago Bridge & Iron by 1,440.8% in the second quarter. SG Americas Securities LLC now owns 60,092 shares of the construction company’s stock worth $1,186,000 after purchasing an additional 56,192 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Chicago Bridge & Iron by 39.7% in the second quarter. Bank of New York Mellon Corp now owns 481,964 shares of the construction company’s stock worth $9,509,000 after purchasing an additional 137,077 shares during the last quarter. Institutional investors own 70.68% of the company’s stock.

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About Chicago Bridge & Iron

Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

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

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