Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Gap Up – Still a Buy?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) gapped up before the market opened on Wednesday . The stock had previously closed at $69.72, but opened at $73.51. Cardinal Infrastructure Group shares last traded at $72.6310, with a volume of 38,120 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus lifted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Oppenheimer boosted their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Three investment 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. Based on data from MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Hold” and an average price target of $59.33.

Cardinal Infrastructure Group Stock Down 0.1%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $2.99 billion and a PE ratio of 301.67. The business has a 50-day moving average of $65.58.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The company had revenue of $418.92 million during the quarter. As a group, analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity

In related news, COO Benjamin Wood bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 61.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS acquired a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $850,000. Taylor Frigon Capital Management LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at $1,209,000. Engle Capital Management L.P. purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $3,168,000. AYAL Capital Advisors Ltd purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $2,278,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of Cardinal Infrastructure Group by 19.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after buying an additional 59,068 shares during the period.

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.