Chicago Bridge & Iron Company N.V. (CBI) Receives Consensus Recommendation of “Hold” from Brokerages
Chicago Bridge & Iron Company N.V. (NYSE:CBI) has been given an average rating of “Hold” by the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.79.
A number of equities analysts recently issued reports on CBI shares. Deutsche Bank set a $13.00 price objective on shares of Chicago Bridge & Iron and gave the stock a “buy” rating in a report on Tuesday, August 22nd. DA Davidson restated a “buy” rating and set a $25.00 target price (down previously from $40.00) on shares of Chicago Bridge & Iron in a research note on Thursday, August 10th. Vertical Research restated a “buy” rating and set a $20.00 target price on shares of Chicago Bridge & Iron in a research note on Thursday, September 14th. MKM Partners restated a “buy” rating and set a $21.00 target price (up previously from $17.00) on shares of Chicago Bridge & Iron in a research note on Wednesday, October 4th. Finally, Credit Suisse Group restated a “hold” rating and set a $13.00 target price on shares of Chicago Bridge & Iron in a research note on Wednesday, September 13th.
Chicago Bridge & Iron (NYSE:CBI) traded up $0.08 on Thursday, hitting $17.26. 2,716,400 shares of the company were exchanged, compared to its average volume of 3,674,459. Chicago Bridge & Iron has a one year low of $9.55 and a one year high of $36.56.
In related news, EVP Daniel M. Mccarthy sold 7,500 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $16.29, for a total value of $122,175.00. Following the sale, the executive vice president now owns 104,964 shares in the company, valued at $1,709,863.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 22,500 shares of company stock worth $357,525 in the last 90 days. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CBI. Northwestern Mutual Wealth Management Co. boosted its stake in Chicago Bridge & Iron by 47.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock worth $152,000 after buying an additional 2,466 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Chicago Bridge & Iron by 1,648.8% during the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock worth $175,000 after buying an additional 8,343 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Chicago Bridge & Iron during the second quarter worth $177,000. Stratos Wealth Partners LTD. purchased a new position in Chicago Bridge & Iron during the third quarter worth $176,000. Finally, Wedbush Securities Inc. purchased a new position in Chicago Bridge & Iron during the third quarter worth $196,000. Institutional investors own 66.69% 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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