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

Research analysts at Truist Financial began coverage on shares of Cardinal Infrastructure Group (NASDAQ:CDNL) in a report issued on Friday, September 25th, MarketBeat Ratings reports. The firm set a “buy” rating and a $40.00 price target on the stock. Truist Financial‘s price objective would indicate a potential upside of 188.27% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Stifel Nicolaus dropped their price objective on 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. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Oppenheimer lowered their target price on 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. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Cardinal Infrastructure Group Stock Down 5.2%

NASDAQ CDNL traded down $0.76 on Friday, reaching $13.88. The company had a trading volume of 305,044 shares, compared to its average volume of 597,690. Cardinal Infrastructure Group has a 1 year low of $13.51 and a 1 year high of $96.40. The firm has a market capitalization of $658.69 million and a PE ratio of 25.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50-day moving average of $31.36 and a 200-day moving average of $50.51.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly 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 business had revenue of $226.93 million for the quarter. On average, equities research analysts anticipate that Cardinal Infrastructure Group will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Leon Wood acquired 51,400 shares of Cardinal Infrastructure Group stock in a transaction on 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 completion of the acquisition, the director owned 51,400 shares in the company, valued at approximately $2,023,104. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Benjamin Wood purchased 25,700 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $39.48 per share, with a total value of $1,014,636.00. Following the transaction, the chief operating officer owned 45,700 shares in the company, valued at approximately $1,804,236. The trade was a 128.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 214,597 shares of company stock worth $8,285,516 in the last three months. Insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new position in shares of Cardinal Infrastructure Group during the first quarter valued at approximately $28,000. Strs Ohio purchased a new stake in Cardinal Infrastructure Group in the 1st quarter worth $87,000. Round Rock Advisors LLC grew its holdings in shares of Cardinal Infrastructure Group by 18.7% in the second quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock valued at $2,114,000 after purchasing an additional 3,541 shares in the last quarter. GatePass Capital LLC purchased a new position in shares of Cardinal Infrastructure Group in the 1st quarter worth $274,000. Finally, Wasatch Advisors LP increased its position in shares of Cardinal Infrastructure Group by 1.3% during the 1st 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.

Cardinal Infrastructure Group Company Profile