Cardinal Infrastructure Group (NASDAQ:CDNL) Downgraded by Zacks Research to “Hold”

Cardinal Infrastructure Group (NASDAQ:CDNL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. 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. Oppenheimer raised their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Finally, Stifel Nicolaus lifted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.33.

Cardinal Infrastructure Group Stock Up 7.5%

Shares of CDNL stock opened at $69.72 on Monday. The firm has a market capitalization of $2.99 billion and a price-to-earnings ratio of 303.13. Cardinal Infrastructure Group has a 12 month low of $21.98 and a 12 month high of $96.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50-day moving average price of $65.58.

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

Insiders Place Their Bets

In related news, COO Benjamin Wood purchased 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The stock was bought at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC bought a new position in shares of Cardinal Infrastructure Group in the 4th quarter valued at about $1,209,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $850,000. TimesSquare Capital Management LLC bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth about $14,612,000. Goldman Sachs Group Inc. bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth about $3,893,000. Finally, CenterBook Partners LP acquired a new position in Cardinal Infrastructure Group during the fourth quarter valued at approximately $1,994,000.

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.