Cardinal Infrastructure Group Inc. (CDNL) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts have a Moderate Buy consensus: Four of six covering brokerages rate Cardinal Infrastructure Group a buy, while one recommends holding and one recommends selling. The average 12-month price target is $46.75, though several firms recently reduced their targets.
• Shares remain well below recent highs: CDNL opened at $15.87, compared with a 12-month high of $96.40, and reported quarterly EPS of $0.26 versus the $0.48 analyst consensus.
• Insider and institutional interest remains notable: Company insiders bought 214,597 shares worth $8.3 million over the past 90 days, while major institutions including Wellington Management and Ranger Investment Management established new positions.

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $46.75.

A number of brokerages recently issued reports on CDNL. Truist Financial set a $30.00 price target on shares of Cardinal Infrastructure Group 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 research note on Thursday, October 8th. Stifel Nicolaus decreased their target price on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Infrastructure Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. Finally, Oppenheimer cut their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, August 12th.

Cardinal Infrastructure Group Stock Up 8.5%

Shares of NASDAQ:CDNL opened at $15.87 on Tuesday. The stock has a fifty day simple moving average of $32.25 and a two-hundred day simple moving average of $50.89. The stock has a market capitalization of $753.35 million and a price-to-earnings ratio of 28.85. Cardinal Infrastructure Group has a 12-month low of $14.09 and a 12-month high of $96.40. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. On average, research analysts anticipate that Cardinal Infrastructure Group will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cardinal Infrastructure Group news, CEO Jeremy Spivey acquired 83,350 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the transaction, the chief executive officer owned 83,350 shares of the company's stock, valued at $3,201,473.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ivy Zelman acquired 12,647 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the transaction, the director directly owned 32,891 shares in the company, valued at $1,302,812.51. This represents a 62.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 214,597 shares of company stock worth $8,285,516 over the last 90 days. 61.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CDNL. Round Rock Advisors LLC lifted its stake in Cardinal Infrastructure Group by 18.7% during the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company's stock valued at $2,114,000 after acquiring an additional 3,541 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Cardinal Infrastructure Group during the 2nd quarter valued at about $14,687,000. Ranger Investment Management L.P. bought a new stake in shares of Cardinal Infrastructure Group in the second quarter worth approximately $11,768,000. Bank of America Corp DE grew its stake in shares of Cardinal Infrastructure Group by 139.4% in the first quarter. Bank of America Corp DE now owns 125,804 shares of the company's stock worth $4,989,000 after acquiring an additional 73,259 shares during the period. Finally, California State Teachers Retirement System purchased a new position in shares of Cardinal Infrastructure Group during the first quarter valued at approximately $28,000.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group, Inc NASDAQ: CDNL is an infrastructure services company serving customers in the telecommunications and utility industries. The company focuses on the development, construction, installation and maintenance of infrastructure used to support communications networks and essential utility systems.

Its service offerings are centered on communications and utility infrastructure projects, including work associated with fiber-optic and other network deployments.

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