Chicago Bridge & Iron Co. (CBI) Sets New 1-Year Low at $31.27
Chicago Bridge & Iron Co. (NYSE:CBI) shares reached a new 52-week low during trading on Thursday . The company traded as low as $31.27 and last traded at $31.51, with a volume of 1,209,816 shares changing hands. The stock had previously closed at $31.70.
A number of research analysts recently commented on CBI shares. Robert W. Baird cut Chicago Bridge & Iron Co. from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $40.00 in a report on Friday, July 22nd. Vetr cut Chicago Bridge & Iron Co. from a “strong-buy” rating to a “hold” rating and set a $40.30 price objective on the stock. in a report on Wednesday, July 20th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $35.00 price objective on shares of Chicago Bridge & Iron Co. in a report on Monday, August 1st. MKM Partners restated a “buy” rating and set a $45.00 price target on shares of Chicago Bridge & Iron Co. in a research note on Wednesday, June 29th. Finally, Johnson Rice upgraded Chicago Bridge & Iron Co. from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $55.00 to $60.00 in a research note on Monday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Chicago Bridge & Iron Co. presently has a consensus rating of “Buy” and a consensus target price of $45.48.
The firm’s market cap is $3.25 billion. The company’s 50-day moving average is $34.91 and its 200-day moving average is $35.95.
Chicago Bridge & Iron Co. (NYSE:CBI) last released its earnings results on Wednesday, July 27th. The company reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.04. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities research analysts expect that Chicago Bridge & Iron Co. will post $4.75 EPS for the current fiscal year.
In other Chicago Bridge & Iron Co. news, insider Philip K. Asherman sold 166,700 shares of Chicago Bridge & Iron Co. stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $33.42, for a total value of $5,571,114.00. Following the transaction, the insider now owns 666,950 shares in the company, valued at approximately $22,289,469. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Philip K. Asherman sold 248,500 shares of Chicago Bridge & Iron Co. stock in a transaction on Friday, August 19th. The shares were sold at an average price of $32.96, for a total transaction of $8,190,560.00. Following the completion of the transaction, the insider now owns 478,050 shares in the company, valued at approximately $15,756,528. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Chicago Bridge & Iron Co. stock. BNP Paribas Arbitrage SA increased its position in shares of Chicago Bridge & Iron Co. (NYSE:CBI) by 61.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,758 shares of the company’s stock after buying an additional 32,954 shares during the period. BNP Paribas Arbitrage SA owned 0.08% of Chicago Bridge & Iron Co. worth $3,383,000 as of its most recent filing with the SEC.
Chicago Bridge & Iron Company N.V. (CB&I) provides a range of services to customers in the energy infrastructure market across the world. The Company provides various services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.
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