Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 7.2% Higher – Still a Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares shot up 7.2% during trading on Tuesday . The stock traded as high as $69.24 and last traded at $69.54. 212,033 shares were traded during 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 have weighed in on CDNL. Oppenheimer increased their target price on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Stifel Nicolaus lifted their price target 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. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group has an average rating of “Hold” and a consensus target price of $59.33.

Cardinal Infrastructure Group Stock Up 1.5%

The stock has a fifty day moving average price of $65.91. The firm has a market cap of $3.03 billion and a price-to-earnings ratio of 307.65. 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 released 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. Research analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the acquisition, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at $1,026,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

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

About Cardinal Infrastructure Group

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.