Cadre (NYSE:CDRE) Stock Rating Lowered by Bank of America

Key Points

• Bank of America downgraded Cadre's stock from "neutral" to "underperform," with a new target price of $26.00, down from $38.00, indicating a potential downside of 12.38% from the last close.
• Wall Street Zen also downgraded Cadre from a "buy" rating to a "hold" rating, reflecting a broader skepticism among analysts about the company's prospects.
• Cadre's stock price has fluctuated between a one-year low of $27.07 and a high of $40.28, and its recent earnings report showed an EPS increase to $0.30, beating expectations.

Cadre (NYSE:CDRE - Get Free Report) was downgraded by analysts at Bank of America from a "neutral" rating to an "underperform" rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $26.00 price target on the stock, down from their prior price target of $38.00. Bank of America's price objective would indicate a potential downside of 13.04% from the stock's current price.

Separately, Wall Street Zen cut shares of Cadre from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Cadre Stock Up 0.6%

Shares of Cadre stock opened at $29.90 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.59 and a quick ratio of 2.56. Cadre has a 1 year low of $27.07 and a 1 year high of $40.28. The firm's 50-day moving average is $32.78 and its two-hundred day moving average is $32.89. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 1.10 and a beta of 1.31.

Cadre (NYSE:CDRE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Cadre had a net margin of 6.65% and a return on equity of 12.08%. The company had revenue of $157.11 million for the quarter, compared to analysts' expectations of $153.23 million. During the same period in the prior year, the business earned $0.31 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. As a group, research analysts expect that Cadre will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 25,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $32.78, for a total value of $819,500.00. Following the sale, the chief executive officer directly owned 10,216,192 shares in the company, valued at approximately $334,886,773.76. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 275,000 shares of company stock valued at $9,309,000. 31.50% of the stock is currently owned by company insiders.

Institutional Trading of Cadre

A number of institutional investors have recently modified their holdings of CDRE. LPL Financial LLC boosted its holdings in shares of Cadre by 14.9% in the 4th quarter. LPL Financial LLC now owns 11,713 shares of the company's stock valued at $378,000 after buying an additional 1,520 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cadre by 21.1% in the 4th quarter. JPMorgan Chase & Co. now owns 201,675 shares of the company's stock valued at $6,514,000 after buying an additional 35,136 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cadre by 171.3% in the 4th quarter. Franklin Resources Inc. now owns 14,662 shares of the company's stock valued at $474,000 after buying an additional 9,257 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cadre by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 586,255 shares of the company's stock valued at $18,941,000 after buying an additional 2,577 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Cadre by 19.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 31,737 shares of the company's stock valued at $1,025,000 after buying an additional 5,236 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors.

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.