Cadre (NYSE:CDRE) Given New $43.00 Price Target at DA Davidson

Key Points

• DA Davidson raised Cadre’s price target to $43 from $40 and maintained an “overweight” rating, implying 32.88% upside from the stock’s $32.36 price. The analyst outlook aligns with a consensus “Moderate Buy” rating and $42.29 target.
• Cadre reported quarterly EPS of $0.26, beating estimates of $0.22, while revenue of $207.13 million exceeded the $178.29 million consensus forecast.
• Institutional ownership increased as BlackRock and other investors initiated positions, although insiders sold 175,000 shares worth $5.09 million over the past 90 days.

Cadre (NYSE:CDRE - Get Free Report) had its price objective boosted by analysts at DA Davidson from $40.00 to $43.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. DA Davidson's target price would indicate a potential upside of 32.88% from the company's current price.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price objective on Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday. Roth Capital reissued a "buy" rating and issued a $43.00 target price (up from $40.00) on shares of Cadre in a research report on Monday. UBS Group set a $43.00 price target on Cadre in a research note on Monday. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded Cadre from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.29.

Cadre Stock Down 1.4%

Shares of NYSE:CDRE traded down $0.46 during trading on Monday, hitting $32.36. 177,746 shares of the company were exchanged, compared to its average volume of 372,012. The stock has a market capitalization of $1.39 billion, a P/E ratio of 38.41 and a beta of 1.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.14 and a quick ratio of 1.35. Cadre has a 12-month low of $25.73 and a 12-month high of $48.76. The firm's 50 day moving average price is $29.78 and its 200-day moving average price is $33.53.

Cadre (NYSE:CDRE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. Cadre had a net margin of 5.26% and a return on equity of 12.02%. The firm had revenue of $207.13 million for the quarter, compared to the consensus estimate of $178.29 million. On average, research analysts predict that Cadre will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Warren B. Kanders sold 100,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the transaction, the chief executive officer owned 9,817,039 shares of the company's stock, valued at $294,805,681.17. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 175,000 shares of company stock worth $5,091,500 over the last 90 days. Company insiders own 30.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CDRE. BlackRock Inc. acquired a new position in shares of Cadre in the second quarter valued at approximately $83,730,000. Deutsche Bank AG acquired a new stake in shares of Cadre during the second quarter worth $960,000. Bank of New York Mellon Corp purchased a new position in Cadre in the 2nd quarter valued at $5,082,000. State of Wyoming purchased a new position in Cadre in the 2nd quarter valued at $61,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Cadre by 5.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,380 shares of the company's stock valued at $2,605,000 after buying an additional 4,386 shares during the period. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

About Cadre

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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