Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

CDNL has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Oppenheimer increased their target price on 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 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Cardinal Infrastructure Group Price Performance

The business has a 50-day moving average of $56.80.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The business had revenue of $418.92 million for the quarter. As a group, research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood bought 20,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were purchased 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 represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ivy Zelman bought 6,921 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 15,326 shares in the company, valued at $556,793.58. This represents a 82.34% increase in their position. The SEC filing for this purchase provides additional information. 61.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new stake in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $28,000. Strs Ohio acquired a new stake in shares of Cardinal Infrastructure Group in the first quarter valued at about $87,000. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $152,000. GatePass Capital LLC acquired a new position in Cardinal Infrastructure Group during the first quarter worth approximately $274,000. Finally, Wasatch Advisors LP lifted its holdings in Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after purchasing an additional 9,064 shares during the last quarter.

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.