Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 1-Year High – Here’s What Happened

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.21 and last traded at $94.31, with a volume of 1110377 shares trading hands. The stock had previously closed at $92.00.

Wall Street Analyst Weigh In

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

Cardinal Infrastructure Group Stock Up 2.5%

The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $60.08.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The firm had revenue of $418.92 million during the quarter. On average, analysts expect that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $1,026,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 61.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at $28,000. Strs Ohio bought a new position in shares of Cardinal Infrastructure Group in the 1st quarter worth $87,000. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $152,000. GatePass Capital LLC bought a new stake in Cardinal Infrastructure Group in the first quarter valued at about $274,000. Finally, Bank of Nova Scotia acquired a new position in Cardinal Infrastructure Group in the first quarter valued at about $366,000.

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.