Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 52-Week High – What’s Next?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reached a new 52-week high during trading on Wednesday . The stock traded as high as $82.66 and last traded at $81.94, with a volume of 797727 shares traded. The stock had previously closed at $72.73.

Analyst Ratings Changes

A number of equities analysts recently commented on CDNL shares. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Oppenheimer boosted their target price on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Stifel Nicolaus raised their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Hold” and an average target price of $59.33.

Cardinal Infrastructure Group Trading Up 12.7%

The business has a 50 day moving average price of $56.80.

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 business had revenue of $418.92 million for the quarter. Equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, Director Ivy Zelman purchased 6,921 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The shares were bought at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the acquisition, the director owned 15,326 shares in the company, valued at $556,793.58. This represents a 82.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin Wood acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the purchase, the chief operating officer owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 61.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System purchased a new position in Cardinal Infrastructure Group during the 1st quarter worth $28,000. Strs Ohio purchased a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $87,000. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $152,000. GatePass Capital LLC acquired a new position in Cardinal Infrastructure Group during the first quarter worth about $274,000. Finally, Wasatch Advisors LP increased its stake in Cardinal Infrastructure Group by 1.3% in the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after purchasing an additional 9,064 shares in the last quarter.

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.