Chicago Bridge & Iron Co. (CBI) Reaches New 1-Year Low at $29.91
Chicago Bridge & Iron Co. (NYSE:CBI)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $29.91 and last traded at $29.96, with a volume of 605,652 shares changing hands. The stock had previously closed at $30.66.
A number of equities research analysts recently issued reports on the stock. Robert W. Baird cut shares of Chicago Bridge & Iron Co. from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $40.00 in a report on Friday, July 22nd. 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. Vetr cut shares of Chicago Bridge & Iron Co. from a “strong-buy” rating to a “hold” rating and set a $40.30 price objective for the company. in a report on Wednesday, July 20th. MKM Partners reiterated a “buy” rating and issued a $45.00 price objective on shares of Chicago Bridge & Iron Co. in a report on Wednesday, June 29th. Finally, Johnson Rice upgraded shares of Chicago Bridge & Iron Co. from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a report on Monday, May 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.48.
The firm’s market capitalization is $3.05 billion. The stock has a 50-day moving average of $34.15 and a 200-day moving average of $35.90.
Chicago Bridge & Iron Co. (NYSE:CBI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by $0.04. During the same period last year, the business earned $1.55 EPS. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.82 billion. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. 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 dated 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 completion of the sale, the insider now owns 666,950 shares in the company, valued at approximately $22,289,469. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick K. Mullen sold 11,985 shares of Chicago Bridge & Iron Co. stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $36.65, for a total transaction of $439,250.25. Following the completion of the sale, the executive vice president now owns 105,222 shares of the company’s stock, valued at approximately $3,856,386.30. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Chicago Bridge & Iron Co. stock. Ameriprise Financial Inc. raised its stake in Chicago Bridge & Iron Co. (NYSE:CBI) by 9.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 56,254 shares of the company’s stock after buying an additional 4,665 shares during the period. Ameriprise Financial Inc. owned about 0.05% of Chicago Bridge & Iron Co. worth $2,201,000 at the end of the most recent quarter.
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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