Chicago Bridge & Iron Company N.V. (CBI) PT Set at $10.00 by Bank of America Corporation

Chicago Bridge & Iron Company N.V. (NYSE:CBI) has been assigned a $10.00 price target by equities research analysts at Bank of America Corporation in a research note issued to investors on Wednesday, August 30th. The brokerage presently has a “sell” rating on the construction company’s stock. Bank of America Corporation’s price objective would suggest a potential downside of 33.55% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. BidaskClub raised shares of Chicago Bridge & Iron Company N.V. from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Deutsche Bank AG set a $13.00 target price on shares of Chicago Bridge & Iron Company N.V. and gave the company a “buy” rating in a report on Tuesday, August 22nd. Jefferies Group LLC downgraded shares of Chicago Bridge & Iron Company N.V. from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.00 to $12.00 in a report on Wednesday, August 16th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Chicago Bridge & Iron Company N.V. in a report on Friday, August 11th. Finally, ValuEngine downgraded shares of Chicago Bridge & Iron Company N.V. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.63.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) traded up 1.28% during midday trading on Wednesday, reaching $15.05. 2,718,272 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $13.66 and its 200-day moving average price is $21.39. Chicago Bridge & Iron Company N.V. has a 1-year low of $9.55 and a 1-year high of $36.56. The company’s market capitalization is $1.52 billion.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last issued its earnings results on Wednesday, August 9th. The construction company reported ($2.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($3.81). The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Chicago Bridge & Iron Company N.V. had a negative net margin of 10.54% and a negative return on equity of 3.92%. The firm’s revenue was down 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Equities analysts expect that Chicago Bridge & Iron Company N.V. will post ($1.83) EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers purchased a new stake in shares of Chicago Bridge & Iron Company N.V. in the second quarter valued at about $761,000. Sterneck Capital Management LLC purchased a new stake in shares of Chicago Bridge & Iron Company N.V. in the second quarter valued at about $1,657,000. Koch Industries Inc. purchased a new stake in shares of Chicago Bridge & Iron Company N.V. in the second quarter valued at about $314,000. Verition Fund Management LLC purchased a new stake in shares of Chicago Bridge & Iron Company N.V. in the second quarter valued at about $467,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Chicago Bridge & Iron Company N.V. by 1,648.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock valued at $175,000 after purchasing an additional 8,343 shares in the last quarter. 67.82% of the stock is currently owned by institutional investors.

Chicago Bridge & Iron Company N.V. 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.

Analyst Recommendations for Chicago Bridge & Iron Company N.V. (NYSE:CBI)

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