JPMorgan Chase & Co. Has Lowered Expectations for Cadre (NYSE:CDRE) Stock Price

Key Points

• JPMorgan lowered Cadre’s price target from $45 to $35 but maintained an “overweight” rating, implying 33.84% potential upside from the stock’s $26.15 price.
• Analyst sentiment remains favorable overall, with Cadre receiving a “Moderate Buy” consensus rating and an average price target of $43.33.
• Cadre exceeded quarterly expectations, reporting $0.26 in earnings per share versus a $0.22 estimate and $207.13 million in revenue versus $178.29 million expected.

Cadre (NYSE:CDRE - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $45.00 to $35.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 33.84% from the company's current price.

Several other equities analysts also recently commented on CDRE. Wall Street Zen upgraded Cadre from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadre in a research note on Monday, August 17th. DA Davidson upped their price target on Cadre from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Roth Capital reiterated a "buy" rating and issued a $43.00 price target (up from $40.00) on shares of Cadre in a research report on Monday, August 10th. Finally, UBS Group set a $43.00 price objective on Cadre in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.33.

Cadre Price Performance

NYSE CDRE traded up $0.31 on Tuesday, reaching $26.15. The company's stock had a trading volume of 291,453 shares, compared to its average volume of 388,141. The firm has a market cap 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 50-day moving average price of $29.26 and a 200 day moving average price of $29.83. Cadre has a 52 week low of $24.07 and a 52 week high of $48.76. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $207.13 million during 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%. Sell-side analysts expect that Cadre will post 1.33 EPS for the current year.

Insider Transactions at Cadre

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 9,517,039 shares of the company's stock, valued at approximately $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.10% of the company's stock.

Institutional Trading of Cadre

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Cadre during the second quarter worth approximately $83,730,000. Reinhart Partners LLC. increased its holdings in shares of Cadre by 22.4% in the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock valued at $78,071,000 after purchasing an additional 500,476 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cadre by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company's stock valued at $23,530,000 after purchasing an additional 60,382 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Cadre in the second quarter valued at approximately $18,984,000. Finally, Fred Alger Management LLC increased its holdings in shares of Cadre by 46.8% in the fourth quarter. Fred Alger Management LLC now owns 623,730 shares of the company's stock valued at $25,473,000 after purchasing an additional 198,750 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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