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

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

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

Cardinal Infrastructure Group Stock Up 7.5%

CDNL opened at $69.72 on Monday. 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 has a 50 day simple moving average of $65.58. The firm has a market cap of $2.99 billion and a price-to-earnings ratio of 303.13. Cardinal Infrastructure Group has a 12-month low of $21.98 and a 12-month high of $96.40.

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

Insider Activity

In other news, COO Benjamin Wood bought 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the purchase, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds have recently made changes to their positions in the company. Taylor Frigon Capital Management LLC acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth approximately $1,209,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $850,000. TimesSquare Capital Management LLC bought a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $14,612,000. Goldman Sachs Group Inc. acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at $3,893,000. Finally, CenterBook Partners LP bought a new stake in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $1,994,000.

Cardinal Infrastructure Group Company Profile

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.