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Chicago Bridge & Iron (CBI) Looks Good: Stock Adds 5.1% in Session

Zacks Equity Research
Updated

Chicago Bridge & Iron Company N.V. CBI was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $15.41–$18.39 in the past one-month time frame, witnessed a sharp increase yesterday.

Two days ago, Chicago Bridge & Iron and McDermott agreed to merge in an all-stock deal worth about $6 billion.

The company has seen five negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Chicago Bridge & Iron currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

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Chicago Bridge & Iron Company N.V. Price

Chicago Bridge & Iron Company N.V. Price | Chicago Bridge & Iron Company N.V. Quote

Investors interested in the Building Products - Heavy Construction industry may consider EMCOR Group, Inc. EME, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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