Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Dropped to Strong Sell by Zacks Research

Cardinal Infrastructure Group (NASDAQ:CDNL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, October 15th, Zacks reports.

CDNL has been the topic of a number of other research reports. Stifel Nicolaus reduced their target price on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Truist Financial assumed coverage on shares of Cardinal Infrastructure Group in a research note on Friday, September 25th. They issued a “buy” rating and a $40.00 price objective for the company. Oppenheimer decreased their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Cardinal Infrastructure Group Trading Down 5.8%

NASDAQ CDNL traded down $0.84 on Thursday, hitting $13.80. 348,068 shares of the stock were exchanged, compared to its average volume of 597,934. 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 has a fifty day moving average price of $31.36 and a two-hundred day moving average price of $50.51. The firm has a market capitalization of $654.99 million and a P/E ratio of 25.09. Cardinal Infrastructure Group has a 52-week low of $13.51 and a 52-week high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. Research analysts forecast that Cardinal Infrastructure Group will post 1.76 EPS for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In related news, COO Benjamin Wood acquired 25,700 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $39.48 per share, for a total transaction of $1,014,636.00. Following the transaction, the chief operating officer owned 45,700 shares in the company, valued at approximately $1,804,236. This trade represents a 128.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ivy Zelman purchased 12,647 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the acquisition, the director directly owned 32,891 shares of the company’s stock, valued at $1,302,812.51. This represents a 62.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 214,597 shares of company stock valued at $8,285,516 over the last ninety days. Corporate insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wasatch Advisors LP grew its position 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 acquiring an additional 9,064 shares during the period. Emerald Advisers LLC raised its holdings in Cardinal Infrastructure Group by 12.7% in 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 period. Conversant Capital LLC acquired a new position in Cardinal Infrastructure Group in the 1st quarter worth about $18,702,000. Principal Financial Group Inc. raised its holdings in Cardinal Infrastructure Group by 198.8% in the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after purchasing an additional 284,918 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Cardinal Infrastructure Group by 19.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after purchasing an additional 59,068 shares in the last quarter.

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.