Cadre (NYSE:CDRE) Price Target Raised to $40.00

Cadre (NYSE:CDRE) had its price objective increased by JPMorgan Chase & Co. from $35.00 to $40.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also commented on CDRE. 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. UBS Group set a $43.00 target price on Cadre in a report on Monday, August 10th. Wall Street Zen raised Cadre from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Cadre in a report on Monday, August 17th. Finally, Roth Capital restated a “buy” rating and set a $43.00 price target (up from $40.00) on shares of Cadre in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cadre has an average rating of “Moderate Buy” and a consensus price target of $44.17.

Cadre Price Performance

CDRE stock opened at $32.72 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.35 and a debt-to-equity ratio of 0.95. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.09 and a beta of 1.29. The company’s fifty day simple moving average is $27.90 and its 200 day simple moving average is $32.08. Cadre has a 12-month low of $24.07 and a 12-month high of $48.76.

Cadre (NYSE:CDRE) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Cadre had a return on equity of 13.26% and a net margin of 5.61%. The firm had revenue of $202.88 million during the quarter, compared to the consensus estimate of $190.67 million. On average, analysts expect that Cadre will post 1.33 earnings per share for the current year.

Cadre Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 30th. Cadre’s dividend payout ratio is 42.11%.

Insider Transactions at Cadre

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 9,517,039 shares of the company’s stock, valued at approximately $317,488,421.04. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cadre in the 2nd quarter valued at $83,730,000. Reinhart Partners LLC. raised its holdings in Cadre by 22.4% during the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock worth $78,071,000 after buying an additional 500,476 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cadre by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company’s stock worth $23,530,000 after buying an additional 60,382 shares during the last quarter. Bank of America Corp DE acquired a new position in Cadre during the second quarter worth $18,984,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Cadre by 14.3% in the third quarter. Russell Investments Group Ltd. now owns 263,421 shares of the company’s stock valued at $6,609,000 after buying an additional 32,865 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors.

About Cadre

Cadre Holdings, Inc is a manufacturer and supplier of equipment used by law enforcement, military personnel, first responders and other public-safety professionals. The company develops products designed to protect personnel, support mission readiness and improve operational performance in demanding environments.

Cadre’s product portfolio includes body armor, tactical equipment, duty gear, holsters, helmets, protective apparel, restraints and related accessories. Its brands also provide equipment for explosive-ordnance disposal, emergency rescue and water-safety applications.