Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Stock Has Average Price Target of $46.75 According to Brokerages

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) has earned an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $46.75.

Several analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Zacks Research lowered shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Stifel Nicolaus lowered their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Truist Financial cut their price target on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, Oppenheimer reduced their price target 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.

Insider Activity at Cardinal Infrastructure Group

In other news, Director Richard Bennett Wimmer acquired 7,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of $39.13 per share, for a total transaction of $293,475.00. Following the acquisition, the director owned 29,349 shares of the company’s stock, valued at $1,148,426.37. This trade represents a 34.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Spivey acquired 83,350 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $38.41 per share, for a total transaction of $3,201,473.50. Following the completion of the acquisition, the chief executive officer owned 83,350 shares in the company, valued at $3,201,473.50. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 214,597 shares of company stock valued at $8,285,516 in the last ninety days. 61.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in shares of Cardinal Infrastructure Group during the first quarter valued at about $28,000. Strs Ohio bought a new stake in shares of Cardinal Infrastructure Group during the first quarter valued at approximately $87,000. Round Rock Advisors LLC grew its stake in Cardinal Infrastructure Group by 18.7% in the second quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after purchasing an additional 3,541 shares during the period. GatePass Capital LLC bought a new position in Cardinal Infrastructure Group in the first quarter worth $274,000. Finally, Wasatch Advisors LP boosted its holdings 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 buying an additional 9,064 shares in the last quarter.

Cardinal Infrastructure Group Stock Performance

Shares of NASDAQ CDNL opened at $14.55 on Tuesday. Cardinal Infrastructure Group has a 52-week low of $13.05 and a 52-week 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 company’s 50 day moving average price is $30.49 and its 200-day moving average price is $44.31.

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

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.