Johnson Rice downgraded Chicago Bridge & Iron Co. (NYSE:CBI) from Buy to Hold in a report released today.
- Updated: September 25, 2016
Johnson Rice has downgraded Chicago Bridge & Iron Co. (NYSE:CBI) from Buy to Hold in a report released on Wednesday September 21, 2016.
Previously on 09/15/2016, Macquarie Research released a statement about Chicago Bridge & Iron Co. (NYSE:CBI) reduced the target price from $25.00 to $20.00. At the time, this indicated a possible downside of -0.29%.
Just yesterday Chicago Bridge & Iron Co. (NYSE:CBI) traded -1.99% lower at $26.78. Chicago Bridge & Iron Co.’s 50-day moving average is $30.64 and its 200-day moving average is $35.18. The last stock price is down -24.22% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,896,461 shares of CBI traded hands, up from an average trading volume of 1,507,850
Recent Performance Chart
Chicago Bridge & Iron Co. has 52 week low of $26.12 and a 52 week high of $46.39 and has a market capitalization of $0.
In addition to Johnson Rice reporting its stock price target, a total of 14 brokerages have issued a research note on the company. The average stock price target is $49.25 with 6 brokerages rating the stock a strong buy, 6 brokerages rating the stock a buy, 4 brokerages rating the stock a hold, 2 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Chicago Bridge & Iron Co. (NYSE:CBI)
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. It operates through four segments. Its Engineering and Construction segment provides engineering, procurement, and construction (EPC) services. Its Fabrication Services segment provides fabrication and erection of steel plate structures; fabrication of piping systems and process modules, and manufacturing and distribution of pipe and fittings. Its Technology segment provides licensed process technologies and catalysts for use in petrochemical facilities and oil refineries. Its Capital Services operating group provides environmental engineering and remediation, infrastructure EPC services and program management.
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