Cadre (NYSE:CDRE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Cadre’s price target from $35 to $40 and maintained an “overweight” rating, implying 22.24% potential upside from the prior close.
• Analyst sentiment is broadly positive: Cadre has a “Moderate Buy” consensus and an average price target of $44.17.
• Cadre beat quarterly estimates, reporting EPS of $0.37 versus $0.28 expected and revenue of $202.88 million versus $190.67 million expected.

Cadre (NYSE:CDRE - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $35.00 to $40.00 in a report issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 22.24% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of Cadre in a report on Monday, August 17th. Jefferies Financial Group restated a "buy" rating and set a $43.00 price objective on shares of Cadre in a report on Sunday, August 9th. UBS Group set a $43.00 price objective on Cadre in a report on Monday, August 10th. DA Davidson upped their target price on Cadre from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Finally, Roth Capital reiterated a "buy" rating and set a $43.00 target price (up from $40.00) on shares of Cadre in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.17.

Cadre Price Performance

CDRE opened at $32.72 on Friday. The company has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $32.08. 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. Cadre has a twelve month low of $24.07 and a twelve month high of $48.76. The company has a current ratio of 2.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.95.

Cadre (NYSE:CDRE - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The firm had revenue of $202.88 million for the quarter, compared to analyst estimates of $190.67 million. Cadre had a net margin of 5.61% and a return on equity of 13.26%. Equities research analysts expect that Cadre will post 1.33 EPS for the current fiscal year.

Insider Activity

In other news, CEO Warren Kanders sold 100,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $33.36, for a total transaction 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 trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 30.10% of the company's stock.

Institutional Trading of Cadre

Several hedge funds and other institutional investors have recently bought and sold shares of CDRE. Sterling Capital Management LLC increased its stake in Cadre by 839.6% during the third quarter. Sterling Capital Management LLC now owns 1,043 shares of the company's stock valued at $26,000 after purchasing an additional 932 shares during the last quarter. KBC Group NV acquired a new stake in shares of Cadre during the first quarter worth $41,000. Allworth Financial LP lifted its position in shares of Cadre by 146.9% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $35,000 after buying an additional 839 shares during the last quarter. Assetmark Inc. lifted its position in shares of Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company's stock worth $58,000 after buying an additional 483 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Cadre in the 2nd quarter worth about $61,000. 43.95% of the stock is 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.

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