Robert W. Baird May Have Gained Confidence in CB&I (NYSE:CBI), Upgrades Stock


CB&I (NYSE:CBI) Stock Upgrade

In analysts note distributed earlier today, Robert W. Baird increased CB&I (NYSE:CBI) shares to a solid “Outperform” rating from their previous “Neutral” rating and they currently have a $52 target price on shares. Robert W. Baird’s target price may mean a possible upside of 35.42% over the previous close of the stock.

From a total of 16 analysts covering Chicago Bridge & Iron Company (NYSE:CBI) stock, 12 rate it a ”Buy”, 2 a “Sell”, and 6 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $75 while the lowest target price is $33.5. The mean of all analyst targets is $56.53 with a 41.61% above today’s ($38.4) stock price. Chicago Bridge & Iron Company was the topic of 12 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on November 13 with “Buy” rating. Vetr upgraded shares to “Buy” rating and $56.9 target share price in a report from an August 18. Tudor Pickering upgraded CBI stock in a recent report from October 28 to “Buy” rating. Finally, Zacks upgraded the stock to “Buy” rating in a report issued on a September 2.

The stock decreased 0.21% or $0.08 on December 15, striking $38.4. Approximately 4 shares of stock traded hands. Chicago Bridge & Iron Company N.V. (NYSE:CBI) has declined 20.81% since May 12, 2015 and is downtrending. It has underperformed by 17.13% the S&P500.

The overall sentiment of institutions has decreased to 1.09 in Q2 2015. Its down 0.05, from 1.14 in 2015Q2. The ratio worsened, as 70 institutions have sold all the shares of Chicago Bridge & Iron Company N.V. that they owned while 134 funds have taken shares off the table. 59 funds have purchased shares for the first time while 163 added to their positions. These institutions now hold 87.42 million shares or 12.84% more than the 77.48 million shares they owned in 2015Q2.

The Fund Candlewood Investment Group Lp currently is holding shares equating to 8.29% of its total portfolio in Chicago Bridge & Iron Company N.V. representing a total of 250,000 shares. Another fund,Minneapolis Portfolio Management Group Llc, is holding a total of 847,193 shares equating to 5.62% of their holdings. Additionally, Van Den Berg Management I Inc has a 1.06 million share stake in Chicago Bridge & Iron Company N.V. which represents 5.41% of their total portfolio. The Fund, Southernsun Asset Management Llc, based out of Tennessee, has also built up a stake in the stock, which represents a total of 5.31% of their total portfolio. Finally Greenlight Capital Inc, a fund which is based in the state of New York reported a total holdings of 7.48 million shares.

Chicago Bridge and Iron Company N.V

According to Zacks Investment Research, “Chicago Bridge & Iron Company N.V. designs, builds, repairs and modifies steel tanks and other steel plate structures and associated systems. The Company designs and builds petroleum terminals, refinery pressure vessels, low temperature and cryogenic storage facilities and elevated water storage tanks for clients internationally.”