Cadre (NYSE:CDRE) Downgraded by Bank of America to Neutral

Bank of America lowered shares of Cadre (NYSE:CDRE - Free Report) from a buy rating to a neutral rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $38.00 target price on the stock, down from their prior target price of $45.00.

Cadre Stock Performance

CDRE stock traded down $1.69 during midday trading on Friday, hitting $34.46. 569,617 shares of the company traded hands, compared to its average volume of 256,376. The business has a 50 day simple moving average of $32.37 and a 200-day simple moving average of $33.50. The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65. Cadre has a twelve month low of $27.07 and a twelve month high of $40.28. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 1.58 and a beta of 1.36.

Cadre (NYSE:CDRE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.10. The business had revenue of $130.11 million for the quarter, compared to analyst estimates of $121.53 million. Cadre had a net margin of 6.34% and a return on equity of 12.88%. Cadre's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. As a group, equities research analysts predict that Cadre will post 1.05 earnings per share for the current year.

Cadre Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.38 annualized dividend and a yield of 1.10%. Cadre's payout ratio is 40.00%.

Insider Buying and Selling at Cadre

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.11, for a total value of $1,655,500.00. Following the sale, the chief executive officer now directly owns 10,566,192 shares in the company, valued at $349,846,617.12. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 200,000 shares of company stock valued at $6,735,500 in the last 90 days. 37.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CDRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cadre by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,823 shares of the company's stock valued at $479,000 after acquiring an additional 578 shares during the period. Millennium Management LLC grew its holdings in shares of Cadre by 103.3% during the 4th quarter. Millennium Management LLC now owns 32,004 shares of the company's stock worth $1,034,000 after purchasing an additional 16,261 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Cadre during the fourth quarter valued at approximately $516,000. JPMorgan Chase & Co. increased its position in shares of Cadre by 21.1% during the fourth quarter. JPMorgan Chase & Co. now owns 201,675 shares of the company's stock valued at $6,514,000 after purchasing an additional 35,136 shares during the period. Finally, Barclays PLC raised its stake in shares of Cadre by 335.6% in the third quarter. Barclays PLC now owns 53,397 shares of the company's stock valued at $2,025,000 after purchasing an additional 41,139 shares in the last quarter. Institutional investors and hedge funds own 43.95% of the company's stock.

About Cadre

Cadre Holdings, Inc manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.