Chicago Bridge & Iron (NYSE:CBI) Cut to Hold at Deutsche Bank

Deutsche Bank cut shares of Chicago Bridge & Iron (NYSE:CBI) from a buy rating to a hold rating in a research note issued to investors on Wednesday, December 20th.

Several other research analysts have also recently issued reports on CBI. KeyCorp reiterated a hold rating on shares of Chicago Bridge & Iron in a report on Friday, September 22nd. Jefferies Group set a $15.00 price objective on shares of Chicago Bridge & Iron and gave the company a hold rating in a report on Tuesday, October 31st. ValuEngine upgraded shares of Chicago Bridge & Iron from a strong sell rating to a sell rating in a report on Monday, October 2nd. MKM Partners reiterated a buy rating and issued a $21.00 price objective (up from $17.00) on shares of Chicago Bridge & Iron in a report on Wednesday, October 4th. Finally, DA Davidson cut shares of Chicago Bridge & Iron from a buy rating to a neutral rating and set a $19.00 price objective for the company. in a report on Tuesday, December 19th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Chicago Bridge & Iron currently has a consensus rating of Hold and a consensus price target of $19.43.

Chicago Bridge & Iron (NYSE CBI) traded up $0.32 during midday trading on Wednesday, reaching $19.01. 2,549,699 shares of the company’s stock traded hands, compared to its average volume of 4,743,336. The company has a market cap of $1,892.16, a PE ratio of -1.81, a price-to-earnings-growth ratio of 1.09 and a beta of 2.22. Chicago Bridge & Iron has a 1 year low of $9.55 and a 1 year 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 the consensus estimate of $0.53 by ($0.19). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.80 billion. Chicago Bridge & Iron had a negative net margin of 13.33% and a negative return on equity of 10.86%. The company’s revenue was down 18.7% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. analysts anticipate 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 the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $16.29, for a total transaction 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 $1,709,863.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 22,500 shares of company stock valued at $357,750 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Chicago Bridge & Iron by 47.1% in the 2nd 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 in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Chicago Bridge & Iron by 1,648.8% in the 2nd 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 in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Chicago Bridge & Iron in the 3rd quarter valued at approximately $176,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Chicago Bridge & Iron in the 2nd quarter valued at approximately $177,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Chicago Bridge & Iron in the 3rd quarter valued at approximately $196,000. Institutional investors and hedge funds 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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