Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 1-Year Low – Here’s What Happened

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $13.89 and last traded at $14.2110, with a volume of 41,599 shares. The stock had previously closed at $14.64.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial reduced their price target on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Zacks Research lowered Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Oppenheimer reduced their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus reduced their target price 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. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Stock Performance

The company’s 50-day moving average price is $31.36 and its 200 day moving average price is $50.51. The stock has a market capitalization of $647.40 million and a PE ratio of 24.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter. On average, equities research analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, Director Ivy Zelman acquired 12,647 shares of the business’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $39.61 per share, with a total value of $500,947.67. Following the transaction, the director owned 32,891 shares in the company, valued at $1,302,812.51. The trade was a 62.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Benjamin Wood bought 25,700 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $39.48 per share, for a total transaction of $1,014,636.00. Following the acquisition, the chief operating officer directly owned 45,700 shares in the company, valued at approximately $1,804,236. This trade represents a 128.50% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 214,597 shares of company stock worth $8,285,516. Insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at $28,000. Strs Ohio purchased a new stake in shares of Cardinal Infrastructure Group in the 1st quarter worth about $87,000. GatePass Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group in the 1st quarter worth about $274,000. Kings Path Partners LLC bought a new position in shares of Cardinal Infrastructure Group in the 3rd quarter worth about $319,000. Finally, Bank of Nova Scotia bought a new position in shares of Cardinal Infrastructure Group in the 1st quarter worth about $366,000.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group, Inc is an infrastructure services company focused on the construction, installation and maintenance of essential utility and communications infrastructure. Its activities are centered on supporting the development and upkeep of networks that enable electric, telecommunications and other infrastructure services.

The company’s operations may include underground utility construction, directional drilling, excavation, conduit and cable installation, and related field services for infrastructure owners, utilities and communications providers.