Cadre (NYSE:CDRE) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Cadre (NYSE:CDRE) had its target price decreased by JPMorgan Chase & Co. from $45.00 to $35.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of Cadre in a research note on Sunday, August 9th. DA Davidson lifted their price target on Cadre from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadre in a research report on Monday, August 17th. Wall Street Zen raised shares of Cadre from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, UBS Group set a $43.00 price objective on shares of Cadre in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Cadre Price Performance

NYSE:CDRE opened at $25.98 on Tuesday. The stock has a 50 day moving average of $28.88 and a two-hundred day moving average of $29.72. Cadre has a 12 month low of $24.07 and a 12 month high of $48.76. The firm has a market cap of $1.11 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.33. 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 (NYSE:CDRE) last announced its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. On average, analysts expect that Cadre will post 1.33 earnings per share for the current fiscal year.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.10 per share. The ex-dividend date was Friday, July 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. Cadre’s dividend payout ratio is currently 47.06%.

Insider Buying and Selling at Cadre

In related news, CEO Warren Kanders sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the completion of the sale, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in Cadre by 5.4% during the second quarter. Arizona State Retirement System now owns 8,842 shares of the company’s stock worth $252,000 after buying an additional 452 shares during the period. Assetmark Inc. raised its stake in shares of Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock valued at $58,000 after acquiring an additional 483 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Cadre by 3.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 25,720 shares of the company’s stock valued at $1,050,000 after acquiring an additional 809 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Cadre by 23.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,881 shares of the company’s stock valued at $180,000 after acquiring an additional 1,117 shares during the period. Finally, KBC Group NV acquired a new position in shares of Cadre in the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Company Profile

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.