Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Climb 9.7% – Should You Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price was up 9.7% during trading on Monday. The stock traded as high as $14.88 and last traded at $15.1330. Approximately 119,330 shares traded hands during trading, a decline of 80% from the average daily volume of 600,287 shares. The stock had previously closed at $13.80.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CDNL. Weiss Ratings lowered Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Zacks Research downgraded Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Oppenheimer reduced their price objective 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. Truist Financial cut their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Finally, Stifel Nicolaus reduced their price objective 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. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.75.

Cardinal Infrastructure Group Trading Up 11.7%

The stock has a 50-day simple moving average of $30.43 and a two-hundred day simple moving average of $50.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market cap of $731.56 million and a PE ratio of 27.96.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million during the quarter. As a group, sell-side analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current year.

Insider Activity at Cardinal Infrastructure Group

In related news, COO Benjamin Wood purchased 25,700 shares of Cardinal Infrastructure Group stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $39.48 per share, with a total value of $1,014,636.00. Following the transaction, the chief operating officer owned 45,700 shares in the company, valued at approximately $1,804,236. The trade was a 128.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leon Wood acquired 51,400 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $2,023,104. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 214,597 shares of company stock worth $8,285,516 over the last quarter. Corporate insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Hedge funds have recently bought and sold shares of the company. Kings Path Partners LLC acquired a new stake in Cardinal Infrastructure Group in the 3rd quarter valued at about $319,000. Round Rock Advisors LLC raised its position in Cardinal Infrastructure Group by 18.7% during the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after buying an additional 3,541 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Cardinal Infrastructure Group during the 2nd quarter worth $14,687,000. Ranger Investment Management L.P. acquired a new stake in shares of Cardinal Infrastructure Group in the 2nd quarter worth approximately $11,768,000. Finally, Bank of America Corp DE grew its position in shares of Cardinal Infrastructure Group by 139.4% in the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock valued at $4,989,000 after purchasing an additional 73,259 shares during the last quarter.

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.