Cadre (NYSE:CDRE) Shares Gap Down - Time to Sell?

Key Points

• Cadre Holdings, Inc. shares gapped down prior to trading, opening at $32.00 compared to the previous close of $34.29, and last traded at $29.81 with a trading volume of 295,506 shares.
• Bank of America has downgraded Cadre from a "buy" to a "neutral" rating, reducing its price target from $45.00 to $38.00, while Wall Street Zen has upgraded it from "hold" to "buy."
• Cadre announced a quarterly dividend of $0.095 per share, set to be paid on August 15th, reflecting a 1.3% dividend yield.

Shares of Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $34.29, but opened at $32.00. Cadre shares last traded at $29.81, with a volume of 295,506 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CDRE shares. Wall Street Zen downgraded Cadre from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America cut Cadre from a "buy" rating to a "neutral" rating and dropped their price target for the company from $45.00 to $38.00 in a research report on Friday, June 13th.

Cadre Stock Performance

The company has a quick ratio of 2.56, a current ratio of 3.59 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.24 billion, a PE ratio of 32.47, a PEG ratio of 1.12 and a beta of 1.31. The company has a 50-day moving average price of $33.03 and a two-hundred day moving average price of $33.01.

Cadre (NYSE:CDRE - Get Free Report) last posted its 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. Cadre had a return on equity of 12.08% and a net margin of 6.65%. The business had revenue of $157.11 million during the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. Analysts predict that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Cadre Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 1st. Cadre's payout ratio is 40.43%.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of Cadre stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $34.86, for a total transaction of $3,486,000.00. Following the completion of the sale, the chief executive officer owned 10,716,192 shares in the company, valued at approximately $373,566,453.12. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 275,000 shares of company stock valued at $9,309,000 over the last quarter. Corporate insiders own 31.50% of the company's stock.

Institutional Trading of Cadre

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC grew its position in Cadre by 27.0% in the second quarter. Intech Investment Management LLC now owns 18,572 shares of the company's stock worth $592,000 after acquiring an additional 3,952 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cadre by 62.0% during the 2nd quarter. SG Americas Securities LLC now owns 15,698 shares of the company's stock valued at $500,000 after purchasing an additional 6,008 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of Cadre by 15.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,034 shares of the company's stock valued at $192,000 after purchasing an additional 799 shares during the last quarter. Geode Capital Management LLC lifted its position in Cadre by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 639,493 shares of the company's stock worth $20,370,000 after buying an additional 35,583 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD boosted its stake in Cadre by 2.2% in the second quarter. Corbyn Investment Management Inc. MD now owns 42,449 shares of the company's stock worth $1,352,000 after buying an additional 910 shares in the last quarter. Hedge funds and other institutional investors 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.