Chicago Bridge & Iron (NYSE:CBI) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently issued reports on CBI. Bank of America started coverage on shares of Chicago Bridge & Iron in a report on Monday, August 7th. They set an “underperform” rating and a $14.00 price target for the company. Citigroup set a $18.00 target price on shares of Chicago Bridge & Iron and gave the stock a “hold” rating in a research report on Thursday, August 10th. Robert W. Baird set a $10.00 target price on shares of Chicago Bridge & Iron and gave the stock a “hold” rating in a research report on Thursday, August 10th. Deutsche Bank set a $21.00 target price on shares of Chicago Bridge & Iron and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, DA Davidson restated a “buy” rating and set a $25.00 target price (down from $40.00) on shares of Chicago Bridge & Iron in a research report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.79.

Chicago Bridge & Iron (CBI) traded up $0.76 during midday trading on Friday, reaching $17.08. 3,377,191 shares of the company traded hands, compared to its average volume of 1,986,098. Chicago Bridge & Iron has a 52-week low of $9.55 and a 52-week high of $36.56.

Chicago Bridge & Iron (NYSE:CBI) last posted its quarterly earnings results 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 firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Chicago Bridge & Iron had a negative return on equity of 10.86% and a negative net margin of 13.33%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. analysts predict that Chicago Bridge & Iron will post -1.98 EPS for the current fiscal year.

In other news, insider Daniel M. Mccarthy sold 7,500 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $15.34, for a total value of $115,050.00. Following the sale, the insider now directly owns 97,464 shares in the company, valued at $1,495,097.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 22,500 shares of company stock worth $357,525 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Chicago Bridge & Iron by 51.9% in the second quarter. BlackRock Inc. now owns 6,340,731 shares of the construction company’s stock valued at $125,104,000 after purchasing an additional 2,165,509 shares during the last quarter. State Street Corp grew its position in shares of Chicago Bridge & Iron by 181.4% in the second quarter. State Street Corp now owns 4,059,198 shares of the construction company’s stock valued at $80,086,000 after purchasing an additional 2,616,783 shares during the last quarter. Fairpointe Capital LLC grew its position in shares of Chicago Bridge & Iron by 41.9% in the second quarter. Fairpointe Capital LLC now owns 4,048,371 shares of the construction company’s stock valued at $79,875,000 after purchasing an additional 1,196,110 shares during the last quarter. Towle & Co. grew its position in shares of Chicago Bridge & Iron by 20.8% in the third quarter. Towle & Co. now owns 1,892,897 shares of the construction company’s stock valued at $31,801,000 after purchasing an additional 326,478 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its position in shares of Chicago Bridge & Iron by 20.1% in the second quarter. Brandywine Global Investment Management LLC now owns 1,581,068 shares of the construction company’s stock valued at $31,195,000 after purchasing an additional 264,419 shares during the last quarter. Institutional investors and hedge funds own 66.50% of the company’s stock.

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

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