Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 7.2% Higher – Here’s Why

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price shot up 7.2% during trading on Tuesday . The stock traded as high as $69.24 and last traded at $69.54. Approximately 212,033 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 465,707 shares. The stock had previously closed at $64.86.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDNL. Zacks Research upgraded Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Oppenheimer boosted their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Stifel Nicolaus upped their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.33.

Cardinal Infrastructure Group Trading Up 10.1%

The stock has a 50 day simple moving average of $65.31. The company has a market cap of $3.06 billion and a price-to-earnings ratio of 308.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.73 and a current ratio of 1.73.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million for the quarter. As a group, equities research analysts predict that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the purchase, the chief operating officer directly owned 20,000 shares in the company, valued at $1,026,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 61.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of Cardinal Infrastructure Group in the first quarter valued at $28,000. Strs Ohio purchased a new stake in Cardinal Infrastructure Group during the first quarter valued at $87,000. Barclays PLC purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at $152,000. Zuckerman Investment Group LLC bought a new position in Cardinal Infrastructure Group during the fourth quarter valued at $242,000. Finally, XTX Topco Ltd bought a new position in Cardinal Infrastructure Group during the fourth quarter valued at $242,000.

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.