Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Stock Has Consensus Price Target of $49.25

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) have received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $46.75.

Several analysts recently commented on the stock. Truist Financial reduced their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a report on Monday. Zacks Research lowered shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Oppenheimer lowered their target price on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Finally, Stifel Nicolaus cut their target price on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, Director Leon Wood acquired 51,400 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the transaction, the director directly owned 51,400 shares of the company’s stock, valued at approximately $2,023,104. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ivy Zelman bought 12,647 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $39.61 per share, for a total transaction of $500,947.67. Following the purchase, the director owned 32,891 shares of the company’s stock, valued at approximately $1,302,812.51. This trade represents a 62.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 214,597 shares of company stock valued at $8,285,516. 61.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Conversant Capital LLC acquired a new position in shares of Cardinal Infrastructure Group during the first quarter worth about $18,702,000. Principal Financial Group Inc. boosted its stake in shares of Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after acquiring an additional 284,918 shares in the last quarter. Engle Capital Management L.P. grew its position in shares of Cardinal Infrastructure Group by 142.7% in the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock valued at $12,610,000 after purchasing an additional 187,000 shares during the last quarter. Wellington Management Group LLP bought a new position in Cardinal Infrastructure Group during the second quarter worth about $14,687,000. Finally, Ranger Investment Management L.P. bought a new position in shares of Cardinal Infrastructure Group in the second quarter valued at approximately $11,768,000.

Cardinal Infrastructure Group Price Performance

NASDAQ CDNL traded down $0.79 on Friday, reaching $13.85. The company’s stock had a trading volume of 305,044 shares, compared to its average volume of 597,690. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. The firm has a market cap of $657.55 million and a PE ratio of 25.23. Cardinal Infrastructure Group has a 52 week low of $13.51 and a 52 week high of $96.40. The business has a 50-day moving average price of $31.36 and a 200 day moving average price of $50.51.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. Sell-side analysts expect that Cardinal Infrastructure Group will post 1.76 EPS for the current year.

About Cardinal Infrastructure Group