Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Down 7.1% – Time to Sell?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) fell 7.1% on Wednesday . The stock traded as low as $70.09 and last traded at $70.43. 420,729 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 463,883 shares. The stock had previously closed at $75.85.

Analyst Upgrades and Downgrades

A number of analysts have commented on CDNL shares. Zacks Research upgraded shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus raised their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Oppenheimer boosted their target price on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

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 stock has a fifty day moving average price of $64.62. The stock has a market capitalization of $2.88 billion and a PE ratio of 291.37.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The business had revenue of $418.92 million during the quarter. As a group, research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current year.

Insider Transactions at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares in the company, valued at $1,026,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter worth $28,000. Strs Ohio purchased a new position in Cardinal Infrastructure Group in the 1st quarter worth about $87,000. Barclays PLC purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth about $152,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth about $242,000. Finally, XTX Topco Ltd purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $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.