Trade Report: Today, Vetr Inc. Downgraded Chicago Bridge & Iron Company (CBI) to Hold

Today, Vetr Inc. Downgraded Chicago Bridge & Iron Company (CBI) to Hold

Vetr cut shares of Chicago Bridge & Iron Company (NYSE:CBI) from a buy rating to a hold rating in a report published on Tuesday morning. The brokerage currently has $33.63 price objective on the stock.

Several other research analysts also recently issued reports on CBI. Citigroup Inc. downgraded Chicago Bridge & Iron Company from a buy rating to a neutral rating and cut their price target for the stock from $48.00 to $38.00 in a research note on Monday, July 25th. Standpoint Research reissued a buy rating on shares of Chicago Bridge & Iron Company in a research note on Wednesday, July 27th. Zacks Investment Research downgraded shares of Chicago Bridge & Iron Company from a hold rating to a sell rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. reissued a neutral rating and issued a $35.00 target price on shares of Chicago Bridge & Iron Company in a research note on Monday, August 1st. Finally, MKM Partners set a $42.00 target price on shares of Chicago Bridge & Iron Company and gave the company a buy rating in a research note on Sunday, September 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Chicago Bridge & Iron Company currently has an average rating of Hold and an average price target of $39.14.

Shares of Chicago Bridge & Iron Company (NYSE:CBI) opened at 33.75 on Tuesday. The stock’s 50 day moving average is $29.54 and its 200 day moving average is $32.79. Chicago Bridge & Iron Company has a 12 month low of $26.12 and a 12 month high of $43.09. The firm has a market cap of $3.38 billion, a PE ratio of 12.31 and a beta of 2.09.

Chicago Bridge & Iron Company (NYSE:CBI) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The business earned $2.78 billion during the quarter, compared to the consensus estimate of $2.75 billion. Chicago Bridge & Iron Company had a return on equity of 22.54% and a net margin of 2.51%. The business’s revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 EPS. On average, analysts anticipate that Chicago Bridge & Iron Company will post $4.82 earnings per share for the current fiscal year.

In other news, insider Patrick K. Mullen sold 18,567 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $28.99, for a total transaction of $538,257.33. Following the completion of the sale, the insider now owns 86,655 shares in the company, valued at approximately $2,512,128.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CBI. Exane Derivatives boosted its position in Chicago Bridge & Iron Company by 0.8% in the second quarter. Exane Derivatives now owns 11,277 shares of the company’s stock worth $390,000 after buying an additional 88 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Chicago Bridge & Iron Company by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,495 shares of the company’s stock worth $640,000 after buying an additional 98 shares in the last quarter. First Trust Advisors LP boosted its position in 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 worth $232,000 after buying an additional 104 shares in the last quarter. Compton Capital Management Inc. RI boosted its position in Chicago Bridge & Iron Company by 1.4% in the second quarter. Compton Capital Management Inc. RI now owns 11,235 shares of the company’s stock worth $389,000 after buying an additional 150 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Chicago Bridge & Iron Company by 1.0% in the third quarter. Principal Financial Group Inc. now owns 16,821 shares of the company’s stock worth $471,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 67.96% 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.

To view Vetr’s full report, visit Vetr’s official website.

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