Cadre (NYSE:CDRE) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Cadre (NYSE:CDRE) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, highlighting positive sentiment among analysts.
• Contrarily, Bank of America downgraded Cadre from "neutral" to "underperform", and lowered its target price from $38.00 to $26.00.
• Cadre recently reported a quarterly EPS of $0.30, surpassing analyst expectations of $0.25, while also seeing an 8.9% year-over-year revenue increase.

Wall Street Zen upgraded shares of Cadre (NYSE:CDRE - Free Report) from a hold rating to a buy rating in a report published on Saturday.

Separately, Bank of America cut Cadre from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $38.00 to $26.00 in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cadre presently has an average rating of "Hold" and an average price target of $31.50.

Cadre Trading Up 4.6%

Shares of NYSE:CDRE traded up $1.50 during mid-day trading on Friday, reaching $34.35. The stock had a trading volume of 282,508 shares, compared to its average volume of 232,148. The firm has a market cap of $1.40 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. The firm has a 50 day simple moving average of $31.66 and a two-hundred day simple moving average of $32.05. The company has a current ratio of 3.59, a quick ratio of 2.56 and a debt-to-equity ratio of 0.90. Cadre has a twelve month low of $27.07 and a twelve month high of $40.28.

Cadre (NYSE:CDRE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $157.11 million for the quarter, compared to the consensus estimate of $153.23 million. Cadre had a net margin of 6.65% and a return on equity of 12.08%. Cadre's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. On average, research analysts predict that Cadre will post 1.05 EPS for the current fiscal year.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. Cadre's dividend payout ratio (DPR) is currently 40.43%.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $33.01, for a total transaction of $1,650,500.00. Following the completion of the transaction, the chief executive officer directly owned 10,241,192 shares of the company's stock, valued at $338,061,747.92. This trade represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cadre

Several hedge funds and other institutional investors have recently made changes to their positions in CDRE. Ophir Asset Management Pty Ltd bought a new position in shares of Cadre in the second quarter valued at $21,872,000. Select Equity Group L.P. grew its stake in shares of Cadre by 726.6% in the first quarter. Select Equity Group L.P. now owns 447,337 shares of the company's stock valued at $13,246,000 after buying an additional 393,218 shares in the last quarter. Greenhouse Funds LLLP grew its stake in shares of Cadre by 8.4% in the second quarter. Greenhouse Funds LLLP now owns 2,743,265 shares of the company's stock valued at $87,373,000 after buying an additional 213,298 shares in the last quarter. Pembroke Management LTD bought a new position in shares of Cadre in the first quarter valued at $5,039,000. Finally, WCM Investment Management LLC grew its stake in shares of Cadre by 38.6% in the first quarter. WCM Investment Management LLC now owns 536,843 shares of the company's stock valued at $15,611,000 after buying an additional 149,551 shares in the last quarter. 43.95% of the stock is 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.