Chicago Bridge & Iron (CBI) Upgraded to Sell at ValuEngine

ValuEngine upgraded shares of Chicago Bridge & Iron (NYSE:CBI) from a strong sell rating to a sell rating in a report released on Friday morning.

Several other research firms also recently weighed in on CBI. KeyCorp reissued a hold rating on shares of Chicago Bridge & Iron in a report on Friday, September 22nd. Deutsche Bank reaffirmed a buy rating and set a $20.00 price target (up from $16.00) on shares of Chicago Bridge & Iron in a report on Tuesday, October 24th. BidaskClub downgraded Chicago Bridge & Iron from a sell rating to a strong sell rating in a report on Saturday, August 12th. MKM Partners reaffirmed a buy rating and set a $21.00 price target (up from $17.00) on shares of Chicago Bridge & Iron in a report on Wednesday, October 4th. Finally, Credit Suisse Group increased their price target on Chicago Bridge & Iron from $13.00 to $15.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $20.79.

Chicago Bridge & Iron (NYSE CBI) traded up $0.76 during mid-day trading on Friday, hitting $17.08. The stock had a trading volume of 3,377,191 shares, compared to its average volume of 1,986,098. Chicago Bridge & Iron has a 1-year low of $9.55 and a 1-year high of $36.56.

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

In other Chicago Bridge & Iron news, EVP Daniel M. Mccarthy sold 7,500 shares of the firm’s stock in a transaction on 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 owns 104,964 shares of the company’s stock, valued at $1,709,863.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 22,500 shares of company stock valued at $357,525. Corporate insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its holdings in Chicago Bridge & Iron by 907.6% in the second quarter. Chicago Partners Investment Group LLC now owns 6,600 shares of the construction company’s stock valued at $130,000 after acquiring an additional 5,945 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Chicago Bridge & Iron by 47.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock valued at $152,000 after acquiring an additional 2,466 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Chicago Bridge & Iron by 1,648.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock valued at $175,000 after acquiring an additional 8,343 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Chicago Bridge & Iron in the second quarter valued at $177,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Chicago Bridge & Iron in the third quarter valued at $176,000. 66.50% of the stock is owned by institutional investors.

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Chicago Bridge & Iron Company Profile

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.

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