Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Climb 7.6% – Should You Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price shot up 7.6% on Wednesday. The stock traded as high as $28.99 and last traded at $29.4450. 466,992 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 534,590 shares. The stock had previously closed at $27.37.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CDNL shares. Truist Financial assumed coverage on shares of Cardinal Infrastructure Group in a research note on Friday, September 25th. They set a “buy” rating and a $40.00 price objective for the company. Stifel Nicolaus dropped their price target on 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. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Oppenheimer reduced their target price on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Moderate Buy” and a consensus price target of $49.25.

Cardinal Infrastructure Group Stock Up 7.6%

The stock has a market capitalization of $1.40 billion and a price-to-earnings ratio of 53.53. The business has a 50-day moving average of $43.56 and a 200-day moving average of $51.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its earnings results 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. On average, sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.85 EPS for the current year.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Leon Wood bought 51,400 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average price of $39.36 per share, with a total value of $2,023,104.00. Following the completion of the transaction, the director directly owned 51,400 shares in the company, valued at $2,023,104. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Bennett Wimmer purchased 7,500 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the completion of the purchase, the director directly owned 29,349 shares of the company’s stock, valued at $1,148,426.37. This represents a 34.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 214,597 shares of company stock worth $8,285,516 in the last three months. Company insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group in the 1st quarter valued at about $28,000. Strs Ohio purchased a new stake in Cardinal Infrastructure Group during the 1st quarter worth approximately $87,000. GatePass Capital LLC purchased a new stake in Cardinal Infrastructure Group during the 1st quarter worth approximately $274,000. Bank of Nova Scotia acquired a new stake in Cardinal Infrastructure Group during the 1st quarter worth approximately $366,000. Finally, Round Rock Advisors LLC boosted its position in Cardinal Infrastructure Group by 18.7% in the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock valued at $2,114,000 after buying an additional 3,541 shares during the period.

Cardinal Infrastructure Group Company Profile