Chicago Bridge & Iron Company NV Receives Buy Rating from Stifel Nicolaus (CBI)
Chicago Bridge & Iron Company NV (NYSE:CBI)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a note issued to investors on Friday, ARN reports. They currently have a $90.00 price target on the stock, up from their previous price target of $69.00. Stifel Nicolaus’ price target would indicate a potential upside of 32.33% from the company’s current price.
The analysts wrote, “We are increasing our target price for CBI stock from $69 to $90/sh. We value CBI stock based on EV/Backlog as well as P/E, P/B, EV/Rev., EV/EBITDA and P/Rev in comparison to prior cycles. Our $90 target price is the average of the six approaches and represents 32% upside.”
A number of other analysts have also recently weighed in on CBI. Analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Chicago Bridge & Iron Company NV in a research note to investors on Friday, October 4th. They now have a $85.00 price target on the stock, up previously from $75.00. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Chicago Bridge & Iron Company NV from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 4th. They now have a $68.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Chicago Bridge & Iron Company NV from $60.00 to $59.00 in a research note to investors on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Chicago Bridge & Iron Company NV currently has an average rating of “Buy” and a consensus target price of $71.67.
In other Chicago Bridge & Iron Company NV news, EVP Daniel Mccarthy unloaded 7,142 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $70.04, for a total value of $500,225.68. Following the completion of the sale, the executive vice president now directly owns 59,510 shares of the company’s stock, valued at approximately $4,168,080. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Chicago Bridge & Iron Company NV (NYSE:CBI) traded up 0.28% during mid-day trading on Friday, hitting $68.20. The stock had a trading volume of 486,117 shares. Chicago Bridge & Iron Company NV has a 52 week low of $36.60 and a 52 week high of $71.31. The stock has a 50-day moving average of $64.22 and a 200-day moving average of $60.31. The company has a market cap of $7.319 billion and a P/E ratio of 22.41.
Chicago Bridge & Iron Company NV (NYSE:CBI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.01. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 119.3% on a year-over-year basis. Analysts expect that Chicago Bridge & Iron Company NV will post $4.17 EPS for the current fiscal year.
Chicago Bridge & Iron Company N.V. (NYSE:CBI) is one of the integrated engineering, procurement and construction (EPC) services providers and process technology licensors, delivering solutions to customers primarily in the energy, petrochemical and natural resource industries.
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