Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 5.8% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares traded down 5.8% during mid-day trading on Thursday . The stock traded as low as $49.41 and last traded at $49.10. 309,700 shares were traded during trading, a decline of 16% from the average session volume of 367,781 shares. The stock had previously closed at $52.12.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. DA Davidson increased their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings assumed coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating on the stock. Finally, Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $49.00.

Cardinal Infrastructure Group Trading Down 4.0%

The firm has a 50 day moving average price of $44.36.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million during the quarter. As a group, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ivy Zelman acquired 6,921 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the transaction, the director owned 15,326 shares in the company, valued at $556,793.58. This represents a 82.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new position in Cardinal Infrastructure Group during the first quarter worth about $28,000. Strs Ohio purchased a new position in Cardinal Infrastructure Group during the first quarter worth about $87,000. Barclays PLC purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth about $152,000. Zuckerman Investment Group LLC purchased a new stake in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Finally, XTX Topco Ltd purchased a new stake in Cardinal Infrastructure Group in 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.