Cadre Holdings, Inc. (NYSE:CDRE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give Cadre Holdings a consensus “Moderate Buy” rating, with an average 12-month price target of $39.80 versus the stock’s recent opening price of $31.05.
• Cadre exceeded quarterly expectations: The company reported earnings of $0.26 per share, above the $0.22 consensus estimate, while revenue of $207.13 million topped expectations of $178.29 million.
• The company declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 1.3% yield. Insiders have sold 175,000 shares worth approximately $5.1 million over the past three months, while institutional investors own 43.95% of the stock.

Shares of Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.80.

CDRE has been the topic of several research reports. Zacks Research upgraded shares of Cadre from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. started coverage on shares of Cadre in a report on Monday, July 27th. They set an "overweight" rating and a $40.00 price target on the stock. Roth Capital reaffirmed a "buy" rating and issued a $40.00 price target on shares of Cadre in a research note on Wednesday, May 13th. Jefferies Financial Group set a $40.00 price objective on Cadre in a report on Wednesday, May 13th. Finally, Weiss Ratings cut Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th.

Cadre Stock Performance

Shares of CDRE stock opened at $31.05 on Thursday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 34.89 and a beta of 1.32. Cadre has a 1-year low of $25.73 and a 1-year high of $48.76. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The stock's fifty day simple moving average is $29.68 and its 200-day simple moving average is $33.67.

Cadre (NYSE:CDRE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million. Cadre had a return on equity of 12.39% and a net margin of 5.80%. On average, sell-side analysts predict that Cadre will post 1.47 earnings per share for the current fiscal year.

Cadre Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Cadre's dividend payout ratio (DPR) is 44.94%.

Insider Activity

In related news, CEO Warren B. Kanders sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $27.43, for a total value of $1,371,500.00. Following the completion of the sale, the chief executive officer owned 9,617,039 shares of the company's stock, valued at approximately $263,795,379.77. The trade was a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 175,000 shares of company stock worth $5,091,500. 30.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cadre

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Cadre in the 4th quarter worth approximately $22,875,000. Reinhart Partners LLC. grew its holdings in Cadre by 22.4% during 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 during the last quarter. Fred Alger Management LLC lifted its stake 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 worth $25,473,000 after buying an additional 198,750 shares during the last quarter. Agman Capital LLC bought a new stake in shares of Cadre during the 4th quarter worth $7,364,000. Finally, Earnest Partners LLC bought a new stake in shares of Cadre during the 4th quarter worth $5,946,000. Institutional investors own 43.95% of the company's stock.

Cadre Company Profile

Cadre NYSE: CDRE is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm's platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.

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