Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Up 8.6% – Time to Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares traded up 8.6% on Wednesday . The stock traded as high as $60.34 and last traded at $61.4810. 320,429 shares were traded during trading, a decline of 15% from the average session volume of 376,591 shares. The stock had previously closed at $56.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. Oppenheimer began coverage on Cardinal Infrastructure Group in a report on Thursday, May 28th. They set an “outperform” rating and a $60.00 target price on the stock. DA Davidson boosted their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus raised their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.67.

Cardinal Infrastructure Group Trading Down 4.5%

The firm has a 50 day moving average price of $49.14.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million during the quarter. Analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Ivy Zelman purchased 6,921 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The stock was bought at an average price of $36.33 per share, with a total value of $251,439.93. Following the acquisition, the director owned 15,326 shares in the company, valued at $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at $1,026,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 61.70% of the stock is owned by insiders.

Institutional Trading of Cardinal Infrastructure Group

Several institutional investors have recently modified their holdings of CDNL. Taylor Frigon Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $1,209,000. Kornitzer Capital Management Inc. KS purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $850,000. TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $14,612,000. Goldman Sachs Group Inc. purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $3,893,000. Finally, CenterBook Partners LP purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $1,994,000.

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.