Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Jumps 12.1% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price traded up 12.1% on Friday. The stock traded as high as $14.47 and last traded at $14.11. Approximately 325,284 shares were traded during trading, a decline of 47% from the average daily volume of 614,513 shares. The stock had previously closed at $12.59.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer lowered their target price on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Zacks Research lowered shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Truist Financial reduced their price target 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. Stifel Nicolaus decreased their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.75.

Cardinal Infrastructure Group Stock Up 10.3%

The company has a market capitalization of $659.49 million and a P/E ratio of 25.47. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $25.62 and a 200-day simple moving average of $43.17.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. On average, equities research analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, Director Leon Wood bought 51,400 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the acquisition, the director owned 51,400 shares of the company’s stock, valued at approximately $2,023,104. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ivy Zelman purchased 12,647 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the purchase, the director owned 32,891 shares of the company’s stock, valued at approximately $1,302,812.51. This represents a 62.47% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 214,597 shares of company stock worth $8,285,516 in the last quarter. Company insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new stake in Cardinal Infrastructure Group in the 1st quarter valued at $28,000. Strs Ohio bought a new position in Cardinal Infrastructure Group during the 1st quarter worth about $87,000. Round Rock Advisors LLC increased its holdings 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 purchasing an additional 3,541 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Cardinal Infrastructure Group by 17.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 28,886 shares of the company’s stock valued at $884,000 after purchasing an additional 4,222 shares during the period. Finally, GatePass Capital LLC acquired a new stake in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $274,000.

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.