Chicago Bridge & Iron Co. (CBI) Given a $42.00 Price Target at MKM Partners

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Chicago Bridge & Iron Co. (NYSE:CBI) received a $42.00 price target from research analysts at MKM Partners in a research note issued on Sunday. The firm presently has a a “buy” rating on the stock. MKM Partners’ target price points to a potential upside of 43.30% from the stock’s previous close.
Several other brokerages also recently issued reports on CBI. Robert W. Baird downgraded shares of Chicago Bridge & Iron Co. from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $40.00 in a research note on Friday, July 22nd. Johnson Rice raised shares of 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. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Chicago Bridge & Iron Co. in a research note on Monday, August 1st. Zacks Investment Research downgraded shares of Chicago Bridge & Iron Co. from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Chicago Bridge & Iron Co. in a research note on Saturday, June 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $45.48.
Chicago Bridge & Iron Co. (NYSE:CBI) traded down 3.01% on Friday, hitting $29.31. The company had a trading volume of 1,030,693 shares. The firm’s 50 day moving average price is $33.14 and its 200 day moving average price is $35.93. Chicago Bridge & Iron Co. has a 12-month low of $29.23 and a 12-month high of $46.39. The stock’s market cap is $3.02 billion.

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Chicago Bridge & Iron Co. (NYSE:CBI) last announced its earnings results on Wednesday, July 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by $0.04. Chicago Bridge & Iron Co. had a negative net margin of 4.81% and a positive return on equity of 24.66%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the firm earned $1.55 earnings per share. Chicago Bridge & Iron Co.’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities analysts predict that Chicago Bridge & Iron Co. will post $4.75 earnings per share for the current fiscal year.
In related news, insider Philip K. Asherman sold 248,500 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $32.96, for a total value of $8,190,560.00. Following the completion of the sale, the insider now owns 478,050 shares in the company, valued at $15,756,528. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick K. Mullen sold 11,985 shares of the stock in a transaction dated Thursday, June 23rd. The shares were 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. 1.40% of the stock is currently owned by corporate insiders.
Several large investors recently added to or reduced their stakes in the stock. American National Bank boosted its stake in Chicago Bridge & Iron Co. by 33.2% in the fourth quarter. American National Bank now owns 52,457 shares of the company’s stock valued at $2,045,000 after buying an additional 13,064 shares during the last quarter. CWM LLC raised its position in Chicago Bridge & Iron Co. by 0.3% in the fourth quarter. CWM LLC now owns 96,012 shares of the company’s stock valued at $3,744,000 after buying an additional 246 shares during the period. Korea Investment CORP raised its position in Chicago Bridge & Iron Co. by 54.1% in the fourth quarter. Korea Investment CORP now owns 35,600 shares of the company’s stock valued at $1,388,000 after buying an additional 12,500 shares during the period. Trust Investment Advisors raised its position in Chicago Bridge & Iron Co. by 14.9% in the fourth quarter. Trust Investment Advisors now owns 28,410 shares of the company’s stock valued at $1,108,000 after buying an additional 3,675 shares during the period. Finally, Anderson Hoagland & Co. raised its position in Chicago Bridge & Iron Co. by 11.5% in the fourth quarter. Anderson Hoagland & Co. now owns 9,690 shares of the company’s stock valued at $378,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 66.27% of the company’s stock.
About Chicago Bridge & Iron Co.
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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