Cardinal Infrastructure Group’s (CDNL) “Buy” Rating Reaffirmed at Stifel Nicolaus

Cardinal Infrastructure Group (NASDAQ:CDNL)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $41.00 price objective on the stock, up from their prior price objective of $38.00. Stifel Nicolaus’ target price indicates a potential upside of 8.71% from the company’s current price.

A number of other research firms have also commented on CDNL. Zacks Research raised shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. Weiss Ratings assumed coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating on the stock. Finally, 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 report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Cardinal Infrastructure Group Stock Performance

Shares of NASDAQ:CDNL traded up $1.42 during midday trading on Monday, reaching $37.72. The company’s stock had a trading volume of 296,612 shares, compared to its average volume of 309,454. The stock’s fifty day simple moving average is $29.48. Cardinal Infrastructure Group has a fifty-two week low of $21.98 and a fifty-two week high of $38.84.

Insider Buying and Selling

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

Hedge Funds Weigh In On Cardinal Infrastructure Group

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