Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 9.3% – Time to Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price traded down 9.3% during trading on Tuesday . The stock traded as low as $54.50 and last traded at $54.74. 299,458 shares were traded during trading, a decline of 15% from the average session volume of 351,753 shares. The stock had previously closed at $60.37.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson boosted their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus lifted 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 note on Wednesday. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings began coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They issued a “sell (e)” rating for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $49.00.

Cardinal Infrastructure Group Trading Down 0.7%

The firm’s 50 day simple moving average is $42.71.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The business had revenue of $418.92 million during the quarter. Equities research analysts predict that Cardinal Infrastructure Group Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Ivy Zelman purchased 6,921 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was bought at an average cost of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the acquisition, the director directly owned 15,326 shares of the company’s stock, valued at approximately $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in Cardinal Infrastructure Group during the first quarter valued at about $87,000. Barclays PLC bought a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $152,000. Zuckerman Investment Group LLC bought a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $242,000. XTX Topco Ltd bought a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $242,000. Finally, GatePass Capital LLC bought a new stake in Cardinal Infrastructure Group during the first quarter valued at about $274,000.

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.