Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 1-Year High - Still a Buy?

Key Points

• Cardinal Infrastructure Group (NASDAQ:CDNL) hit a new 52-week high, trading as high as $46.72 and last around $46.50 during the session on volume of about 8,886 shares.
• Analysts are mixed but generally bullish — MarketBeat shows a consensus rating of Moderate Buy with an average target of $38, while individual ratings range from Sell (Weiss) to Strong Buy (Zacks) and several firms have raised targets.
• Insider Director Ivy Zelman purchased 6,921 shares at roughly $36.33 (an 82% increase in her holding), and multiple hedge funds established new stakes, signaling growing insider and institutional interest.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.72 and last traded at $46.4990, with a volume of 8886 shares changing hands. The stock had previously closed at $45.63.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDNL. Weiss Ratings began coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a "sell (e)" rating on the stock. Stifel Nicolaus reissued a "buy" rating and issued a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday, March 30th. Zacks Research raised Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 6th. 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Cardinal Infrastructure Group Stock Performance

The stock has a fifty day simple moving average of $32.53.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds have recently modified their holdings of CDNL. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $152,000. XTX Topco Ltd acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $242,000. Zuckerman Investment Group LLC acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $242,000. Oxford Asset Management LLP acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $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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