Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Down 7% - Time to Sell?

Key Points

• Cardinal Infrastructure Group shares fell 7% on Friday, trading as low as $65.92 after closing at $71.27 the previous day, with volume below its recent average.
• Analyst sentiment is mixed: recent target hikes from Oppenheimer and Stifel were offset by a Zacks downgrade, leaving the stock with a consensus Hold rating and an average price target of $59.33.
• Fundamentals and ownership remain notable, with a market cap of $2.75 billion, a high P/E of 281.89, and significant insider ownership; COO Benjamin Wood also recently bought 20,000 shares.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) dropped 7% during trading on Friday . The company traded as low as $65.92 and last traded at $66.2860. 306,760 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 483,406 shares. The stock had previously closed at $71.27.

Analysts Set New Price Targets

CDNL has been the subject of several recent research reports. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Oppenheimer boosted their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Zacks Research downgraded Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Stifel Nicolaus increased their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Three 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $59.33.

Cardinal Infrastructure Group Stock Down 10.0%

The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.73. The company's fifty day moving average price is $67.81. The stock has a market capitalization of $2.75 billion and a price-to-earnings ratio of 281.89.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last announced its quarterly earnings data on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The firm had revenue of $418.92 million during the quarter. As a group, analysts predict that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current year.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the acquisition, the chief operating officer directly owned 20,000 shares of the company's stock, valued at $1,026,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 61.70% of the stock is owned by corporate insiders.

Institutional Trading of Cardinal Infrastructure Group

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group in the 1st quarter worth approximately $28,000. Strs Ohio purchased a new stake in Cardinal Infrastructure Group during the 1st quarter worth about $87,000. Barclays PLC acquired a new position in Cardinal Infrastructure Group in the 4th quarter valued at about $152,000. GatePass Capital LLC purchased a new position in Cardinal Infrastructure Group in the 1st quarter valued at about $274,000. Finally, Wasatch Advisors LP boosted 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 worth $27,483,000 after purchasing an additional 9,064 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.