Zacks Investment Research downgraded shares of Chicago Bridge & Iron Company (NYSE:CBI) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Over the past six months, shares of Chicago Bridge & Iron have underperformed the Zacks categorized Building-Heavy Construction industry average. In addition, the company has a dismal track record, with only one beat over the trailing four quarters. Prolonged weakness in energy market and commodity price fluctuations is acting as fundamental growth dampener for the company. The sluggish oil and gas markets have been causing constant project deferrals, thus adding to the Chicago Bridge & Iron's woes. Also, decline in federal government spending and stringent competition are proving to be a major headwinds. In addition, the strengthening of the U.S. dollar against Australian, Columbia and European currencies are affecting profitability. However, on the positive side, the company’s robust technology portfolio, strategic collaborations and diligent cost-cutting strategies are expected to act as growth catalysts, going forward.”

Several other research firms have also weighed in on CBI. Vetr lowered Chicago Bridge & Iron Company from a strong-buy rating to a buy rating and set a $39.78 price target on the stock. in a research report on Monday, December 12th. MKM Partners set a $43.00 price target on Chicago Bridge & Iron Company and gave the company a buy rating in a research report on Tuesday, November 22nd. DA Davidson reissued a buy rating on shares of Chicago Bridge & Iron Company in a research report on Monday, February 27th. Argus began coverage on Chicago Bridge & Iron Company in a research report on Wednesday, December 7th. They set a buy rating and a $43.00 price target on the stock. Finally, Jefferies Group LLC reissued a buy rating and set a $38.00 price target on shares of Chicago Bridge & Iron Company in a research report on Tuesday, December 6th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $38.14.

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

Shares of Chicago Bridge & Iron Company (NYSE:CBI) opened at 29.64 on Wednesday. Chicago Bridge & Iron Company has a one year low of $26.12 and a one year high of $41.33. The stock’s market capitalization is $2.97 billion. The company’s 50 day moving average price is $32.81 and its 200 day moving average price is $31.36.

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The firm also recently announced a special dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 16th. Chicago Bridge & Iron Company’s payout ratio is 10.18%.

A number of hedge funds have recently made changes to their positions in CBI. First Trust Advisors LP increased its stake in shares of Chicago Bridge & Iron Company by 1.3% in the third quarter. First Trust Advisors LP now owns 8,286 shares of the company’s stock valued at $232,000 after buying an additional 104 shares during the last quarter. Cedar Wealth Management LLC increased its stake in shares of Chicago Bridge & Iron Company by 6.4% in the third quarter. Cedar Wealth Management LLC now owns 3,800 shares of the company’s stock valued at $107,000 after buying an additional 230 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Chicago Bridge & Iron Company by 0.4% in the third quarter. UBS Asset Management Americas Inc. now owns 96,502 shares of the company’s stock valued at $2,704,000 after buying an additional 400 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Chicago Bridge & Iron Company by 0.4% in the third quarter. Teachers Advisors LLC now owns 109,907 shares of the company’s stock valued at $3,081,000 after buying an additional 475 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Chicago Bridge & Iron Company by 7.1% in the third quarter. Raymond James Trust N.A. now owns 8,125 shares of the company’s stock valued at $228,000 after buying an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Chicago Bridge & Iron Company Company Profile

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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