Macquarie Increases Chicago Bridge & Iron Company N.V. (CBI) Price Target to $14.00

Chicago Bridge & Iron Company N.V. (NYSE:CBI) had its target price raised by equities researchers at Macquarie from $10.00 to $14.00 in a report released on Wednesday, June 28th, Marketbeat Ratings reports. The firm currently has a “sell” rating on the construction company’s stock. Macquarie’s price target points to a potential downside of 23.50% from the company’s current price.

A number of other equities research analysts also recently commented on CBI. UBS AG reiterated a “buy” rating and set a $21.00 price objective (down previously from $32.00) on shares of Chicago Bridge & Iron Company N.V. in a research report on Wednesday, May 24th. Deutsche Bank AG boosted their target price on shares of Chicago Bridge & Iron Company N.V. from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. MKM Partners reaffirmed a “buy” rating and issued a $34.00 price target (down from $41.00) on shares of Chicago Bridge & Iron Company N.V. in a research note on Friday, May 19th. Credit Suisse Group set a $40.00 price target on shares of Chicago Bridge & Iron Company N.V. and gave the stock a “buy” rating in a research note on Saturday, April 22nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Chicago Bridge & Iron Company N.V. in a research note on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.24.

Chicago Bridge & Iron Company N.V. (CBI) opened at 18.30 on Wednesday. The firm’s market capitalization is $1.85 billion. Chicago Bridge & Iron Company N.V. has a one year low of $12.91 and a one year high of $39.71. The firm has a 50-day moving average price of $18.21 and a 200-day moving average price of $28.45.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last issued its earnings results on Monday, May 8th. The construction company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.71. Chicago Bridge & Iron Company N.V. had a negative net margin of 3.81% and a positive return on equity of 17.98%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.01 EPS. Chicago Bridge & Iron Company N.V.’s revenue was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Chicago Bridge & Iron Company N.V. will post $3.09 earnings per share for the current year.

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In other news, insider Edgar C. Ray sold 48,700 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $31.03, for a total transaction of $1,511,161.00. Following the transaction, the insider now directly owns 60,496 shares in the company, valued at approximately $1,877,190.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Westley S. Stockton sold 2,657 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $31.00, for a total transaction of $82,367.00. Following the transaction, the vice president now owns 19,005 shares in the company, valued at $589,155. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Chicago Bridge & Iron Company N.V. by 3.8% in the first quarter. Vanguard Group Inc. now owns 8,368,949 shares of the construction company’s stock worth $257,345,000 after buying an additional 308,397 shares in the last quarter. FMR LLC increased its stake in shares of Chicago Bridge & Iron Company N.V. by 832.8% in the first quarter. FMR LLC now owns 5,253,638 shares of the construction company’s stock worth $161,550,000 after buying an additional 4,690,447 shares during the period. BlackRock Inc. boosted its position in Chicago Bridge & Iron Company N.V. by 3,280.3% in the first quarter. BlackRock Inc. now owns 4,175,222 shares of the construction company’s stock worth $128,389,000 after buying an additional 4,051,706 shares in the last quarter. Fairpointe Capital LLC boosted its position in Chicago Bridge & Iron Company N.V. by 34.8% in the first quarter. Fairpointe Capital LLC now owns 2,852,261 shares of the construction company’s stock worth $87,707,000 after buying an additional 736,649 shares in the last quarter. Finally, LSV Asset Management boosted its position in Chicago Bridge & Iron Company N.V. by 13.9% in the first quarter. LSV Asset Management now owns 1,901,740 shares of the construction company’s stock worth $58,478,000 after buying an additional 232,638 shares in the last quarter. 65.63% of the stock is owned by hedge funds and other 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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