Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 7.2% Higher - Still a Buy?

Key Points

• Cardinal Infrastructure Group (NASDAQ:CDNL) shares jumped 7.2% intraday to around $69.54, after trading as high as $69.24. Trading volume was lighter than usual, at about 212,033 shares versus the 465,707-share average.
• Analyst sentiment remains mostly positive: Zacks upgraded the stock to strong-buy, Oppenheimer raised its price target to $80 and kept an outperform rating, and Stifel lifted its target to $63 with a buy rating. The consensus rating is now Moderate Buy with an average price target of $59.33.
• The company reported strong recent results, including $1.98 EPS and $418.92 million in quarterly revenue, while insiders and institutions have been active buyers. COO Benjamin Wood bought 20,000 shares, and several hedge funds recently added positions.

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) traded up 7.2% during mid-day trading on Tuesday . The stock traded as high as $69.24 and last traded at $69.54. Approximately 212,033 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 465,707 shares. The stock had previously closed at $64.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 1st. Weiss Ratings raised Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. Oppenheimer upped their price objective 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. Finally, Stifel Nicolaus increased their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cardinal Infrastructure Group presently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

Cardinal Infrastructure Group Stock Up 10.1%

The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.06 billion and a price-to-earnings ratio of 308.13. The business's fifty day moving average is $65.31.

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

Insiders Place Their Bets

In related news, COO Benjamin Wood bought 20,000 shares of the 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 completion of the transaction, the chief operating officer owned 20,000 shares of the company's stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 61.70% of the company's stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth approximately $850,000. Taylor Frigon Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $1,209,000. Engle Capital Management L.P. purchased a new position in shares of Cardinal Infrastructure Group during the 4th quarter valued at $3,168,000. AYAL Capital Advisors Ltd purchased a new position in shares of Cardinal Infrastructure Group during the 4th quarter valued at $2,278,000. Finally, Emerald Advisers LLC boosted 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 buying an additional 65,245 shares during the period.

Cardinal Infrastructure Group Company Profile

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.

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