Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 12-Month High – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $67.17 and last traded at $67.1610, with a volume of 56679 shares. The stock had previously closed at $65.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CDNL shares. DA Davidson boosted their price objective on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Oppenheimer started coverage on Cardinal Infrastructure Group in a research report on Thursday, May 28th. They set an “outperform” rating and a $60.00 price objective for the company. Stifel Nicolaus boosted 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. Finally, Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three equities research 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, Cardinal Infrastructure Group has a consensus rating of “Hold” and a consensus target price of $52.67.

Cardinal Infrastructure Group Stock Up 3.0%

The firm has a fifty day moving average of $51.61.

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

Insider Buying and Selling

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Ivy Zelman purchased 6,921 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 82.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 61.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNL. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group in the 1st quarter worth $28,000. Strs Ohio bought a new stake in shares of Cardinal Infrastructure Group in the first quarter valued at about $87,000. Barclays PLC bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $152,000. Zuckerman Investment Group LLC bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $242,000. Finally, XTX Topco Ltd bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $242,000.

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.