Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $49.25.

Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their target price on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a report on Tuesday. Truist Financial assumed coverage on Cardinal Infrastructure Group in a research note on Friday. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Oppenheimer lowered their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th.

Cardinal Infrastructure Group Trading Up 1.9%

Cardinal Infrastructure Group stock traded up $0.53 during midday trading on Friday, reaching $28.07. The stock had a trading volume of 18,985 shares, compared to its average volume of 529,046. The stock has a market capitalization of $1.33 billion and a PE ratio of 50.82. Cardinal Infrastructure Group has a twelve month low of $21.98 and a twelve month high of $96.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59. The stock’s 50-day simple moving average is $46.19 and its 200 day simple moving average is $52.02.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter. Analysts expect that Cardinal Infrastructure Group will post 1.85 EPS for the current year.

Insider Activity at Cardinal Infrastructure Group

In other news, COO Benjamin Wood acquired 25,700 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $39.48 per share, with a total value of $1,014,636.00. Following the purchase, the chief operating officer owned 45,700 shares of the company’s stock, valued at approximately $1,804,236. This represents a 128.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Spivey purchased 83,350 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the completion of the acquisition, the chief executive officer directly owned 83,350 shares in the company, valued at $3,201,473.50. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in CDNL. Wasatch Advisors LP raised its position in Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after buying an additional 9,064 shares during the period. Emerald Advisers LLC increased its stake in shares of Cardinal Infrastructure Group by 12.7% during the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock worth $22,944,000 after purchasing an additional 65,245 shares during the last quarter. Conversant Capital LLC bought a new position in Cardinal Infrastructure Group during the first quarter valued at about $18,702,000. Principal Financial Group Inc. raised its stake in shares of Cardinal Infrastructure Group by 198.8% in the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after acquiring an additional 284,918 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Cardinal Infrastructure Group in the second quarter worth $14,687,000.

About Cardinal Infrastructure Group