Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 52-Week Low – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as $13.89 and last traded at $14.2110, with a volume of 41,599 shares. The stock had previously closed at $14.64.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Zacks Research cut Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Stifel Nicolaus cut their price target 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. Finally, Oppenheimer reduced their price objective on 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. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Cardinal Infrastructure Group Trading Down 6.8%

The firm has a 50-day moving average price of $31.36 and a 200-day moving average price of $50.51. 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 market cap of $647.40 million and a PE ratio of 24.84.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly 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. As a group, equities analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leon Wood bought 51,400 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ivy Zelman bought 12,647 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price 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 SEC filing for this purchase provides additional information. In the last three months, insiders bought 214,597 shares of company stock valued at $8,285,516. 61.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNL. Wasatch Advisors LP boosted its stake in 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 last quarter. Emerald Advisers LLC raised its stake in shares of Cardinal Infrastructure Group by 12.7% in the first 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 purchased a new position in shares of Cardinal Infrastructure Group in the first quarter worth $18,702,000. Principal Financial Group Inc. raised its stake in shares of Cardinal Infrastructure Group by 198.8% in the first 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 last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in shares of 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 valued at $14,239,000 after purchasing an additional 59,068 shares in the last quarter.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group, Inc is an infrastructure services company focused on the construction, installation and maintenance of essential utility and communications infrastructure. Its activities are centered on supporting the development and upkeep of networks that enable electric, telecommunications and other infrastructure services.

The company’s operations may include underground utility construction, directional drilling, excavation, conduit and cable installation, and related field services for infrastructure owners, utilities and communications providers.