Cardinal Infrastructure Group (NASDAQ:CDNL) Cut to Hold at Zacks Research

Zacks Research lowered shares of Cardinal Infrastructure Group (NASDAQ:CDNL) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on CDNL. Stifel Nicolaus reiterated a “buy” rating and set a $41.00 price objective (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday, March 30th. 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. Finally, DA Davidson increased their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Hold” and an average target price of $38.00.

Cardinal Infrastructure Group Stock Performance

Shares of CDNL stock opened at $50.21 on Monday. The stock has a 50-day moving average of $36.43. Cardinal Infrastructure Group has a one year low of $21.98 and a one year high of $54.55.

Insider Activity

In related news, Director Ivy Zelman purchased 6,921 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was acquired at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the acquisition, the director owned 15,326 shares in the company, valued at approximately $556,793.58. This represents a 82.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC purchased a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $152,000. XTX Topco Ltd acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $242,000. Zuckerman Investment Group LLC acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $242,000. Oxford Asset Management LLP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $586,000.

Cardinal Infrastructure Group Company Profile

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.