Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 12-Month High – Time to Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $35.76 and last traded at $34.40, with a volume of 13550 shares changing hands. The stock had previously closed at $34.22.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CDNL. DA Davidson raised their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus lifted their target price on Cardinal Infrastructure Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cardinal Infrastructure Group currently has a consensus rating of “Buy” and a consensus price target of $33.00.

Cardinal Infrastructure Group Price Performance

Institutional Inflows and Outflows

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