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

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $82.66 and last traded at $81.94, with a volume of 797727 shares changing hands. The stock had previously closed at $72.73.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDNL. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Stifel Nicolaus upped their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Oppenheimer raised their target price on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cardinal Infrastructure Group presently has a consensus rating of “Hold” and an average target price of $59.33.

Cardinal Infrastructure Group Stock Down 0.3%

The stock has a fifty day moving average price of $58.39.

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 analysts expect that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

A number of hedge funds have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS bought a new position in Cardinal Infrastructure Group during the 4th quarter worth $850,000. Taylor Frigon Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $1,209,000. AYAL Capital Advisors Ltd acquired a new stake in shares of Cardinal Infrastructure Group during the 4th quarter worth $2,278,000. Brant Point Investment Management LLC bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $2,490,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $14,612,000.

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.