Cardinal Infrastructure Group (NASDAQ:CDNL – Get Free Report) had its target price increased by investment analysts at Stifel Nicolaus from $41.00 to $63.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.00% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Weiss Ratings started coverage on Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a “sell (e)” rating on the stock. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, DA Davidson raised their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group currently has an average rating of “Hold” and an average target price of $49.00.
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Cardinal Infrastructure Group Stock Down 1.5%
Cardinal Infrastructure Group (NASDAQ:CDNL – Get Free Report) last announced its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The company had revenue of $418.92 million for the quarter. As a group, research analysts anticipate that Cardinal Infrastructure Group will post 1.64 EPS for the current year.
Insider Activity
In other news, Director Ivy Zelman purchased 6,921 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was bought at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the purchase, the director owned 15,326 shares of the company’s stock, valued at $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Cardinal Infrastructure Group
Several institutional investors have recently added to or reduced their stakes in CDNL. Taylor Frigon Capital Management LLC purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $1,209,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Cardinal Infrastructure Group in the fourth quarter valued at $850,000. Bastion Asset Management Inc. bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at $4,016,000. Emerald Advisers LLC raised its stake in shares of Cardinal Infrastructure Group by 12.7% during the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock valued at $22,944,000 after purchasing an additional 65,245 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in Cardinal Infrastructure Group by 19.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after purchasing an additional 59,068 shares in the last quarter.
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.
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