Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Gap Down After Earnings Miss

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $60.00, but opened at $51.08. Cardinal Infrastructure Group shares last traded at $43.1530, with a volume of 577,787 shares changing hands.

The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDNL. Stifel Nicolaus increased their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Oppenheimer raised their target price on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.33.

Insider Transactions at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought 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 owned 20,000 shares of the company’s stock, valued at $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $31,082,000. Ophir Asset Management Pty Ltd purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at approximately $23,865,000. Wasatch Advisors LP bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $16,539,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $14,612,000.

Cardinal Infrastructure Group Price Performance

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 firm has a market cap of $1.85 billion and a P/E ratio of 187.47. The stock’s 50-day simple moving average is $70.49 and its two-hundred day simple moving average is $50.08.

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.