Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 12-Month High - Should You Buy?

Key Points

• Shares of Cardinal Infrastructure Group hit a new 52-week high, trading as high as $54.55 and last at $51.48 on a volume of 568,223 shares.
• Analysts are mixed — MarketBeat shows an average rating of Moderate Buy with an average price target of $38, while individual reports range from a "sell" (Weiss) to "strong-buy" (Zacks) and buy-side targets of $35–$41.
• Director Ivy Zelman bought 6,921 shares at $36.33 and several institutions initiated new stakes in Q4, indicating insider and institutional interest in the stock.

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $54.55 and last traded at $51.48, with a volume of 568223 shares trading hands. The stock had previously closed at $51.64.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CDNL. Weiss Ratings assumed coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a "sell (e)" rating on the stock. DA Davidson lifted their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Zacks Research raised shares of Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a report on Friday, March 6th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.00.

Cardinal Infrastructure Group Stock Up 0.9%

The company has a 50 day moving average of $34.96.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Ivy Zelman bought 6,921 shares of Cardinal Infrastructure Group stock in a transaction dated Thursday, March 26th. The stock was bought at an average cost of $36.33 per share, for a total transaction of $251,439.93. Following the purchase, the director owned 15,326 shares of the company's stock, valued at $556,793.58. The trade was a 82.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CDNL. Barclays PLC bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $152,000. XTX Topco Ltd acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $242,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $242,000. Oxford Asset Management LLP acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $355,000. Finally, HRT Financial LP acquired a new stake in Cardinal Infrastructure Group during 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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