Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate CDNL a “Moderate Buy”: Four of six analysts recommend buying the stock, while two advise holding it. The average 12-month price target is $49.25, versus a recent trading price of $28.07.
• Recent coverage was mixed, with Stifel Nicolaus and Oppenheimer lowering their price targets, while Truist Financial initiated coverage with a “buy” rating and a $40 target.
• Cardinal Infrastructure Group reported quarterly EPS of $0.26, missing the $0.48 consensus estimate. Meanwhile, insiders purchased 214,597 shares worth approximately $8.3 million in the last quarter, and insiders own 61.7% of the company.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $49.25.

CDNL has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Cardinal Infrastructure Group from a "sell (e+)" rating to a "hold (c)" rating in a research report on Tuesday. Stifel Nicolaus lowered their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Oppenheimer dropped 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 research note on Wednesday, August 12th. Truist Financial started coverage on shares of Cardinal Infrastructure Group in a research note on Friday. They set a "buy" rating and a $40.00 target price for the company. Finally, Zacks Research downgraded shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th.

Cardinal Infrastructure Group Stock Performance

Shares of Cardinal Infrastructure Group stock traded up $0.53 during trading on Friday, hitting $28.07. 18,985 shares of the company's stock were exchanged, compared to its average volume of 529,046. Cardinal Infrastructure Group has a 52-week low of $21.98 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 stock has a market capitalization of $1.33 billion and a price-to-earnings ratio of 50.82. The business has a 50-day simple moving average of $46.19 and a 200-day simple moving average of $52.02.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The company had revenue of $226.93 million during the quarter. On average, research analysts forecast that Cardinal Infrastructure Group will post 1.85 EPS for the current year.

Insider Activity

In related news, Director Leon Wood bought 51,400 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $39.36 per share, for a total transaction of $2,023,104.00. Following the acquisition, the director owned 51,400 shares in the company, valued at approximately $2,023,104. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ivy Zelman bought 12,647 shares of the business's stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $39.61 per share, for a total transaction of $500,947.67. Following the transaction, the director directly owned 32,891 shares of the company's stock, valued at approximately $1,302,812.51. This represents a 62.47% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 214,597 shares of company stock valued at $8,285,516. Insiders own 61.70% of the company's stock.

Institutional Trading of Cardinal Infrastructure Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Conversant Capital LLC purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at approximately $18,702,000. Principal Financial Group Inc. boosted its position in shares of Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company's stock worth $16,983,000 after purchasing an additional 284,918 shares in the last quarter. Engle Capital Management L.P. increased its holdings in Cardinal Infrastructure Group by 142.7% in the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company's stock valued at $12,610,000 after buying an additional 187,000 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Cardinal Infrastructure Group in the second quarter valued at $14,687,000. Finally, Ranger Investment Management L.P. acquired a new position in Cardinal Infrastructure Group during the second quarter worth about $11,768,000.

About Cardinal Infrastructure Group

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.