Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Rating Lowered by Zacks Research

Cardinal Infrastructure Group (NASDAQ:CDNL) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Oppenheimer lifted their target price on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.33.

Cardinal Infrastructure Group Trading Up 7.5%

Shares of NASDAQ CDNL opened at $69.72 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $2.99 billion and a P/E ratio of 303.13. Cardinal Infrastructure Group has a 12 month low of $21.98 and a 12 month high of $96.40. The business’s 50 day simple moving average is $65.58.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million during the quarter. Analysts predict that Cardinal Infrastructure Group will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Benjamin Wood acquired 20,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 61.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System acquired a new stake in Cardinal Infrastructure Group in the 1st quarter worth about $28,000. Strs Ohio bought a new stake in Cardinal Infrastructure Group in the 1st quarter valued at about $87,000. Barclays PLC acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $152,000. GatePass Capital LLC bought a new position in shares of Cardinal Infrastructure Group during the first quarter worth approximately $274,000. Finally, Bank of Nova Scotia bought a new position in shares of Cardinal Infrastructure Group during the first quarter worth approximately $366,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.