Cardinal Infrastructure Group (NASDAQ:CDNL) Sets New 1-Year High – Still a Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.51 and last traded at $30.64, with a volume of 102172 shares. The stock had previously closed at $24.56.

Analysts Set New Price Targets

A number of research firms have weighed in on CDNL. Stifel Nicolaus lifted their price objective on Cardinal Infrastructure Group from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson raised shares of Cardinal Infrastructure Group to a “strong-buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $30.50.

Cardinal Infrastructure Group Trading Up 28.1%

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oxford Asset Management LLP acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth $355,000. Engle Capital Management L.P. purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $3,168,000. Russell Investments Group Ltd. acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $767,000. Barclays PLC purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $152,000. Finally, Zuckerman Investment Group LLC acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $242,000.

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.