Chicago Bridge & Iron Company Upgraded to “Buy” by DA Davidson (CBI)
Chicago Bridge & Iron Company (NYSE:CBI) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $90.00 price objective on the stock. DA Davidson’s price objective suggests a potential upside of 31.85% from the stock’s previous close.
Shares of Chicago Bridge & Iron Company (NYSE:CBI) opened at 68.19 on Wednesday. Chicago Bridge & Iron Company has a 1-year low of $56.04 and a 1-year high of $89.22. The stock’s 50-day moving average is $79.46 and its 200-day moving average is $80.94. The company has a market cap of $7.372 billion and a P/E ratio of 15.68. Chicago Bridge & Iron Company also was the target of unusually large options trading activity on Tuesday. Traders bought 12,461 call options on the stock. This represents an increase of 861% compared to the average daily volume of 1,296 call options.
Chicago Bridge & Iron Company (NYSE:CBI) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.87 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.10 by $0.23. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the company posted $0.82 earnings per share. Chicago Bridge & Iron Company’s revenue was up 30.1% compared to the same quarter last year. On average, analysts predict that Chicago Bridge & Iron Company will post $5.09 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Chicago Bridge & Iron Company in a research note on Wednesday, May 28th. They now have a $86.00 price target on the stock. Analysts at Credit Agricole reiterated an “underperform” rating on shares of Chicago Bridge & Iron Company in a research note on Thursday, April 10th. They now have a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $85.25.
Chicago Bridge & Iron Company N.V. is an energy infrastructure focused company and provider of government services.
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