Cardinal Infrastructure Group (NASDAQ:CDNL) Sets New 52-Week High – Still a Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $55.05 and last traded at $54.7450, with a volume of 91897 shares changing hands. The stock had previously closed at $53.03.

Wall Street Analyst Weigh In

Several research firms recently commented on CDNL. DA Davidson upped their price objective on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Stifel Nicolaus restated a “buy” rating and set a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a research report on Monday, March 30th. Finally, Weiss Ratings began coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.00.

Cardinal Infrastructure Group Price Performance

The company has a 50-day simple moving average of $39.18.

Insider Activity

In other Cardinal Infrastructure Group news, Director Ivy Zelman acquired 6,921 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were bought at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the transaction, the director owned 15,326 shares of the company’s stock, valued at approximately $556,793.58. This represents a 82.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently made changes to their positions in CDNL. Strs Ohio purchased a new stake in shares of Cardinal Infrastructure Group in the first quarter worth $87,000. Barclays PLC bought a new position in Cardinal Infrastructure Group in the fourth quarter valued at $152,000. XTX Topco Ltd bought a new position in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Zuckerman Investment Group LLC bought a new position in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Finally, Oxford Asset Management LLP bought a new position in Cardinal Infrastructure Group in the fourth quarter valued at $355,000.

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.