Cadre (NYSE:CDRE) Price Target Cut to $35.00 by Analysts at JPMorgan Chase & Co.

Cadre (NYSE:CDRE) had its price target dropped by research analysts at JPMorgan Chase & Co. from $45.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 33.84% from the stock’s current price.

CDRE has been the topic of a number of other reports. Jefferies Financial Group restated a “buy” rating and set a $43.00 target price on shares of Cadre in a research report on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadre in a research note on Monday, August 17th. UBS Group set a $43.00 price target on shares of Cadre in a research report on Monday, August 10th. DA Davidson boosted their price target on shares of Cadre from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of Cadre from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Cadre Trading Up 1.2%

Shares of CDRE traded up $0.31 during trading hours on Tuesday, hitting $26.15. 291,453 shares of the stock traded hands, compared to its average volume of 388,141. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02. Cadre has a 1-year low of $24.07 and a 1-year high of $48.76. The firm has a market capitalization of $1.12 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33. The business has a fifty day moving average of $29.26 and a 200-day moving average of $29.83.

Cadre (NYSE:CDRE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. Cadre had a return on equity of 12.02% and a net margin of 5.26%. Analysts expect that Cadre will post 1.33 EPS for the current year.

Insider Buying and Selling

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $33.36, for a total value of $3,336,000.00. Following the transaction, the chief executive officer owned 9,517,039 shares of the company’s stock, valued at approximately $317,488,421.04. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several institutional investors have recently modified their holdings of CDRE. Bank of New York Mellon Corp bought a new stake in shares of Cadre in the 2nd quarter valued at about $5,082,000. Principal Financial Group Inc. acquired a new stake in shares of Cadre in the 1st quarter valued at approximately $1,202,000. Dimensional Fund Advisors LP raised its position in shares of Cadre by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company’s stock valued at $23,530,000 after acquiring an additional 60,382 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Cadre in the 2nd quarter valued at approximately $782,000. Finally, Reinhart Partners LLC. boosted its stake in Cadre by 22.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock worth $78,071,000 after acquiring an additional 500,476 shares during the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

About Cadre

Cadre Holdings, Inc is a Jacksonville, Florida-based manufacturer of products designed to protect and equip law enforcement, military, public-safety and commercial customers. The company develops and supplies safety and survivability equipment intended for use in demanding operational environments.

Its product portfolio includes body armor, protective equipment, duty gear, holsters, tactical equipment, less-lethal systems, bomb-disposal and explosive-ordnance-disposal products, and equipment for chemical, biological, radiological and nuclear response.