Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 1-Year High – Here’s Why

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) hit a new 52-week high on Tuesday . The stock traded as high as $95.21 and last traded at $94.31, with a volume of 1110377 shares changing hands. The stock had previously closed at $92.00.

Analysts Set New Price Targets

CDNL has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Oppenheimer boosted their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three research 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, the company presently has an average rating of “Hold” and an average target price of $59.33.

Cardinal Infrastructure Group Stock Performance

The business has a 50 day simple moving average of $61.61. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Monday, March 23rd. The company reported $1.98 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 EPS for the current year.

Insiders Place Their Bets

In related news, COO Benjamin Wood purchased 20,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $1,026,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 61.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Large investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS acquired a new stake in Cardinal Infrastructure Group in the 4th quarter valued at approximately $850,000. Taylor Frigon Capital Management LLC acquired a new position in Cardinal Infrastructure Group during the fourth quarter worth $1,209,000. Wasatch Advisors LP boosted its position in shares of Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after buying an additional 9,064 shares during the period. AYAL Capital Advisors Ltd purchased a new position in shares of Cardinal Infrastructure Group during the fourth quarter worth $2,278,000. Finally, Brant Point Investment Management LLC acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $2,490,000.

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.