Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Stock Has Average Target Price of $46.75

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. One research 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 1-year price target among brokerages that have issued a report on the stock in the last year is $46.75.

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

Cardinal Infrastructure Group Trading Down 5.9%

Cardinal Infrastructure Group stock traded down $0.86 during trading hours on Tuesday, reaching $13.78. The company had a trading volume of 348,068 shares, compared to its average volume of 597,934. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. Cardinal Infrastructure Group has a 12-month low of $13.51 and a 12-month high of $96.40. The company has a 50-day moving average price of $31.36 and a 200 day moving average price of $50.51. The firm has a market cap of $654.14 million and a price-to-earnings ratio of 25.09.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly 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. Equities analysts forecast that Cardinal Infrastructure Group will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leon Wood purchased 51,400 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the acquisition, the director directly owned 51,400 shares in the company, valued at approximately $2,023,104. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ivy Zelman purchased 12,647 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $39.61 per share, for a total transaction of $500,947.67. Following the acquisition, the director owned 32,891 shares of the company’s stock, valued at $1,302,812.51. This represents a 62.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 214,597 shares of company stock valued at $8,285,516 over the last three months. Insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $2,704,000. Bank of America Corp DE increased its position in shares of Cardinal Infrastructure Group by 139.4% during the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock valued at $4,989,000 after buying an additional 73,259 shares during the period. Ranger Investment Management L.P. bought a new position in Cardinal Infrastructure Group in the second quarter worth about $11,768,000. Principal Financial Group Inc. raised its stake in Cardinal Infrastructure Group by 198.8% in the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after buying an additional 284,918 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Cardinal Infrastructure Group in the second quarter worth about $14,687,000.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.