Stifel Nicolaus Reaffirms “Buy” Rating for Cardinal Infrastructure Group (NASDAQ:CDNL)

Cardinal Infrastructure Group (NASDAQ:CDNL)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research note issued on Monday,Benzinga reports. They presently have a $41.00 target price on the stock, up from their previous target price of $38.00. Stifel Nicolaus’ price objective suggests a potential upside of 3.40% from the stock’s previous close.

A number of other research firms also recently issued reports 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 stock a “buy” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Cardinal Infrastructure Group Stock Up 6.2%

NASDAQ CDNL opened at $39.65 on Monday. The firm’s 50 day moving average price is $29.95. Cardinal Infrastructure Group has a one year low of $21.98 and a one year high of $39.80.

Insider Activity at Cardinal Infrastructure Group

In related news, Director Ivy Zelman bought 6,921 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, with a total value of $251,439.93. Following the transaction, the director owned 15,326 shares in the company, valued at $556,793.58. This trade represents a 82.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors have recently bought and sold shares of CDNL. Schonfeld Strategic Advisors LLC bought a new position in Cardinal Infrastructure Group during the fourth quarter valued at $31,082,000. Ophir Asset Management Pty Ltd purchased a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth about $23,865,000. Wasatch Advisors LP bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $16,539,000. Adage Capital Partners GP L.L.C. purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $14,992,000. Finally, TimesSquare Capital Management LLC bought a new stake in Cardinal Infrastructure Group in the fourth quarter worth about $14,612,000.

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.