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

Zacks Research cut shares of Cardinal Infrastructure Group (NASDAQ:CDNL) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on CDNL. Stifel Nicolaus raised their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer upped their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.33.

Cardinal Infrastructure Group Price Performance

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

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million for the quarter. As a group, research analysts anticipate that Cardinal Infrastructure Group will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, COO Benjamin Wood acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the purchase, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at $1,026,000. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $28,000. Strs Ohio acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter worth approximately $87,000. Barclays PLC bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $152,000. GatePass Capital LLC bought a new stake in shares of Cardinal Infrastructure Group in the 1st quarter worth approximately $274,000. Finally, Wasatch Advisors LP lifted its stake in 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 purchasing an additional 9,064 shares during the last quarter.

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.