Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 52-Week High – Time to Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week high on Monday . The stock traded as high as $54.55 and last traded at $51.48, with a volume of 568223 shares. The stock had previously closed at $51.64.

Analyst Ratings Changes

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

Cardinal Infrastructure Group Price Performance

The business’s fifty day simple moving average is $34.96.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, Director Ivy Zelman purchased 6,921 shares of the firm’s stock in a transaction dated 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 purchase, the director owned 15,326 shares in the company, valued at approximately $556,793.58. This trade represents a 82.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Institutional investors have recently modified their holdings of the business. Taylor Frigon Capital Management LLC acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $1,209,000. HBK Investments L P acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $1,668,000. Jane Street Group LLC acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $771,000. HRT Financial LP acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $586,000. Finally, Oxford Asset Management LLP acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $355,000.

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.