Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 8.2% Higher - Still a Buy?

Key Points

• Cardinal Infrastructure Group shares rose 8.2% to about $37.50, although trading volume was 47% below the average daily level.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one Hold and one Sell, resulting in a consensus Hold rating and an average price target of $52.33.
• The company reported quarterly EPS of $0.26, missing the $0.48 consensus estimate, while its elevated 168.22 P/E ratio highlights a demanding valuation.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) shares were up 8.2% during trading on Friday . The stock traded as high as $36.99 and last traded at $37.5030. Approximately 273,678 shares changed hands during trading, a decline of 47% from the average daily volume of 512,004 shares. The stock had previously closed at $34.66.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDNL. Zacks Research lowered shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Oppenheimer reduced 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 report on Wednesday. Weiss Ratings raised shares of Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus dropped 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 note on Wednesday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $52.33.

Cardinal Infrastructure Group Price Performance

The company has a market cap of $1.66 billion and a PE ratio of 168.22. 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 50 day simple moving average of $69.03 and a 200-day simple moving average of $50.28.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $226.93 million for the quarter. As a group, research analysts predict that Cardinal Infrastructure Group Inc. will post 1.88 earnings per share for the current fiscal year.

Insider Transactions 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 shares were acquired at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC acquired a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $31,082,000. Ophir Asset Management Pty Ltd purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $23,865,000. Wasatch Advisors LP increased its holdings in shares of Cardinal Infrastructure Group by 1.3% during the first 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 in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at about $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $14,612,000.

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.

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