Cardinal Infrastructure Group (NASDAQ:CDNL) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Cardinal Infrastructure Group (NASDAQ:CDNL) from a "strong-buy" to a "hold" in a research note issued on Monday.
• Analyst coverage is mixed — two Buy, one Hold and one Sell — leaving an average rating of "Hold" and a consensus target price of $38.00.
• Ivy Zelman, a company director, bought 6,921 shares at about $36.33 on March 26, increasing her stake by 82.34% in a roughly $251,440 transaction.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on CDNL. Stifel Nicolaus restated a "buy" rating and set a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday, March 30th. Weiss Ratings began coverage on Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a "sell (e)" rating for the company. Finally, DA Davidson increased their target price on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Two 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, the stock has an average rating of "Hold" and a consensus target price of $38.00.

Cardinal Infrastructure Group Trading Down 8.4%

Shares of NASDAQ CDNL opened at $47.77 on Monday. The firm's 50-day moving average is $35.92. Cardinal Infrastructure Group has a 52 week low of $21.98 and a 52 week high of $54.55.

Insiders Place Their Bets

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

Institutional Trading of Cardinal Infrastructure Group

Hedge funds have recently modified their holdings of the company. Barclays PLC bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $152,000. Zuckerman Investment Group LLC bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $242,000. XTX Topco Ltd bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $242,000. Oxford Asset Management LLP bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $355,000. Finally, HRT Financial LP bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth approximately $586,000.

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.

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