Cardinal Infrastructure Group (NASDAQ:CDNL) Given New $63.00 Price Target at Stifel Nicolaus

Cardinal Infrastructure Group (NASDAQ:CDNL) had its price target hoisted by investment analysts at Stifel Nicolaus from $41.00 to $63.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.00% from the company’s current price.

Several other research firms have also issued reports on CDNL. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. DA Davidson increased their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Weiss Ratings began coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating for the company. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.00.

Cardinal Infrastructure Group Stock Performance

NASDAQ:CDNL traded down $0.84 on Wednesday, reaching $56.25. 89,179 shares of the stock traded hands, compared to its average volume of 355,357. Cardinal Infrastructure Group has a 1-year low of $21.98 and a 1-year high of $63.18. The firm has a 50 day moving average of $41.80.

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

Insiders Place Their Bets

In other news, Director Ivy Zelman purchased 6,921 shares of the business’s stock in a transaction on Thursday, March 26th. The shares were acquired at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the acquisition, the director owned 15,326 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in Cardinal Infrastructure Group during the 4th quarter valued at $23,865,000. Wasatch Advisors LP acquired a new position in Cardinal Infrastructure Group during the fourth quarter worth $16,539,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter valued at $14,992,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter valued at $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.