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 prior to trading 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDRE. Bank of America lowered shares of Cadre from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $45.00 to $38.00 in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Cadre from a "hold" rating to a "buy" rating in a report on Saturday, June 14th.

Cadre Trading Down 14.5%

The company has a quick ratio of 2.57, a current ratio of 3.55 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 1.22 and a beta of 1.31. The business's 50 day simple moving average is $33.19 and its 200 day simple moving average is $33.23.

Cadre (NYSE:CDRE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $157.11 million during the quarter, compared to analysts' expectations of $153.23 million. Cadre had a net margin of 6.87% and a return on equity of 12.52%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, research analysts expect that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Cadre Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, August 1st. This represents a $0.38 annualized dividend and a dividend yield of 1.3%. Cadre's dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at Cadre

In other Cadre news, CEO Warren B. Kanders sold 25,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $32.78, for a total transaction of $819,500.00. Following the sale, the chief executive officer owned 10,216,192 shares in the company, valued at $334,886,773.76. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 275,000 shares of company stock worth $9,309,000. Corporate insiders own 37.00% of the company's stock.

Hedge Funds Weigh In On Cadre

A number of hedge funds have recently added to or reduced their stakes in CDRE. Huntington National Bank raised its stake in shares of Cadre by 48.4% in the second quarter. Huntington National Bank now owns 960 shares of the company's stock worth $31,000 after buying an additional 313 shares during the period. Bank of Montreal Can bought a new position in shares of Cadre during the 2nd quarter valued at approximately $514,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Cadre by 24.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,274 shares of the company's stock worth $168,000 after acquiring an additional 1,053 shares during the last quarter. Assetmark Inc. grew its stake in shares of Cadre by 43.1% during the second quarter. Assetmark Inc. now owns 1,395 shares of the company's stock valued at $44,000 after buying an additional 420 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Cadre in the 2nd quarter worth about $217,000. 43.95% of the stock is currently owned by hedge funds and other 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.

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