Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 8.2% Higher – Still a Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price was up 8.2% on Tuesday . The stock traded as high as $32.43 and last traded at $31.71. Approximately 156,287 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 260,861 shares. The stock had previously closed at $29.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. DA Davidson boosted their price objective 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 increased their target price on Cardinal Infrastructure Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.00.

Cardinal Infrastructure Group Stock Performance

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Osterweis Capital Management Inc. bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $1,843,000. J. Goldman & Co LP bought a new position in Cardinal Infrastructure Group during the 4th quarter worth $1,809,000. Aventail Capital Group LP acquired a new position in Cardinal Infrastructure Group in the 4th quarter valued at $1,680,000. Jane Street Group LLC acquired a new position in Cardinal Infrastructure Group in the 4th quarter valued at $771,000. Finally, HRT Financial LP bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $586,000.

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.