Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Rating Upgraded by Zacks Research

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

A number of other brokerages also recently issued reports on CDNL. Stifel Nicolaus upped their price objective 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 lifted their target price 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, Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

Cardinal Infrastructure Group Price Performance

CDNL opened at $74.25 on Wednesday. Cardinal Infrastructure Group has a fifty-two week low of $21.98 and a fifty-two week high of $96.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. The firm’s 50-day moving average price is $62.14. The company has a market capitalization of $3.18 billion and a price-to-earnings ratio of 322.83.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million during the quarter. On average, equities research analysts expect that Cardinal Infrastructure Group will post 1.87 earnings per share for the current year.

Insider Activity at Cardinal Infrastructure Group

In other news, COO Benjamin Wood purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several institutional investors have recently added to or reduced their stakes in CDNL. Schonfeld Strategic Advisors LLC bought a new position in Cardinal Infrastructure Group during the fourth quarter worth about $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $23,865,000. Wasatch Advisors LP purchased a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at approximately $16,539,000. Adage Capital Partners GP L.L.C. bought a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $14,992,000. Finally, TimesSquare Capital Management LLC bought a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $14,612,000.

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.