Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Gap Up – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price gapped up prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

CDNL has been the topic of a number of recent analyst reports. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. 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 lifted their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer boosted their target price on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cardinal Infrastructure Group presently has a consensus rating of “Hold” and a consensus price target of $59.33.

Cardinal Infrastructure Group Trading Up 0.9%

The business has a fifty day moving average price of $66.31. The stock has a market capitalization of $3.06 billion and a P/E ratio of 310.39. 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 EPS for the quarter. The business had revenue of $418.92 million for the quarter. Sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the purchase, the chief operating officer owned 20,000 shares of the company’s stock, valued at $1,026,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $23,865,000. Wasatch Advisors LP raised its stake in shares of Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after purchasing an additional 9,064 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth about $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth 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.