JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cadre (NYSE:CDRE) Stock

Cadre (NYSE:CDRE) had its target price lifted by research analysts at JPMorgan Chase & Co. from $35.00 to $40.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.24% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadre in a report on Monday, August 17th. 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 report on Monday, August 10th. UBS Group set a $43.00 price objective on shares of Cadre in a research note on Monday, August 10th. Roth Capital reiterated a “buy” rating and issued a $43.00 price objective (up from $40.00) on shares of Cadre in a report on Monday, August 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Cadre in a report on Sunday, August 9th. One research 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 company. Based on data from MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average target price of $44.17.

Cadre Stock Performance

Shares of NYSE:CDRE opened at $32.72 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.35 and a quick ratio of 1.51. Cadre has a 1 year low of $24.07 and a 1 year high of $48.76. The firm has a market capitalization of $1.40 billion, a PE ratio of 34.45, a P/E/G ratio of 1.09 and a beta of 1.29. The business’s 50 day moving average price is $27.90 and its 200-day moving average price is $32.08.

Cadre (NYSE:CDRE) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $202.88 million during the quarter, compared to the consensus estimate of $190.67 million. Cadre had a return on equity of 13.26% and a net margin of 5.61%. As a group, equities research analysts expect that Cadre will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $33.36, for a total value of $3,336,000.00. Following the transaction, the chief executive officer directly owned 9,517,039 shares in the company, valued at $317,488,421.04. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 30.10% of the stock is owned by company insiders.

Institutional Trading of Cadre

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Cadre by 839.6% in the third quarter. Sterling Capital Management LLC now owns 1,043 shares of the company’s stock valued at $26,000 after acquiring an additional 932 shares during the last quarter. KBC Group NV purchased a new position in Cadre in the first quarter worth approximately $41,000. Allworth Financial LP increased its stake in Cadre by 146.9% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $35,000 after acquiring an additional 839 shares during the last quarter. Assetmark Inc. increased its stake in Cadre by 34.6% during the first quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock worth $58,000 after acquiring an additional 483 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Cadre during the second quarter worth $61,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

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.