Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on Cardinal Infrastructure Group from $31 to $38 and kept a "buy" rating, indicating roughly an 8.3% upside from the current price.
• Analyst views are mixed—one Strong Buy, two Buys and one Sell—leaving a consensus of "Moderate Buy" with an average price target of $36.50.
• Shares recently traded up to $35.08 (50‑day MA $28.61), and multiple institutions (Barclays, Zuckerman, XTX, Oxford, HRT) initiated or added positions in the fourth quarter.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) had its price target increased by equities research analysts at Stifel Nicolaus from $31.00 to $38.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 8.32% from the company's current price.

A number of other brokerages also recently commented on CDNL. Weiss Ratings started coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a "sell (e)" rating on the stock. DA Davidson raised their target price on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.50.

Cardinal Infrastructure Group Price Performance

Shares of Cardinal Infrastructure Group stock traded up $1.90 on Friday, hitting $35.08. 175,575 shares of the company were exchanged, compared to its average volume of 259,568. The stock's 50-day moving average is $28.61. Cardinal Infrastructure Group has a 1-year low of $21.98 and a 1-year high of $36.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC purchased a new position in Cardinal Infrastructure Group in the fourth quarter worth approximately $152,000. Zuckerman Investment Group LLC acquired a new position in shares of Cardinal Infrastructure Group in the 4th quarter valued at $242,000. XTX Topco Ltd purchased a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $242,000. Oxford Asset Management LLP purchased a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group during the 4th 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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