Cardinal Infrastructure Group (NASDAQ:CDNL) Coverage Initiated by Analysts at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Cardinal Infrastructure Group (NASDAQ:CDNL) in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 45.24% from the stock’s current price.

A number of other brokerages have also recently issued reports on CDNL. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research report on Tuesday. Oppenheimer decreased their price objective on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus decreased their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group presently has an average rating of “Moderate Buy” and an average target price of $49.25.

Cardinal Infrastructure Group Stock Down 4.0%

CDNL stock opened at $27.54 on Friday. The stock has a market cap of $1.31 billion and a P/E ratio of 50.07. 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 has a twelve month low of $21.98 and a twelve month high of $96.40. The company’s 50 day moving average is $46.19 and its two-hundred day moving average is $52.02.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted 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 company had revenue of $226.93 million for the quarter. Research analysts expect that Cardinal Infrastructure Group will post 1.85 earnings per share for the current fiscal year.

Insider Transactions at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Leon Wood bought 51,400 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the purchase, 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 is accessible through the SEC website. Also, COO Benjamin Wood purchased 25,700 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $39.48 per share, for a total transaction of $1,014,636.00. Following the completion of the purchase, the chief operating officer owned 45,700 shares of the company’s stock, valued at approximately $1,804,236. This represents a 128.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 214,597 shares of company stock valued at $8,285,516 over the last 90 days. Insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter valued at $2,704,000. Bank of America Corp DE raised its position 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 valued at $4,989,000 after buying an additional 73,259 shares during the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Cardinal Infrastructure Group during the second quarter valued at approximately $11,768,000. Principal Financial Group Inc. boosted its position in Cardinal Infrastructure Group by 198.8% during the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after acquiring an additional 284,918 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Cardinal Infrastructure Group in the 1st quarter valued at $4,016,000.

About Cardinal Infrastructure Group