Wall Street Zen Downgrades Cadre (NYSE:CDRE) to Hold

Key Points

• Cadre Holdings has been downgraded by both Wall Street Zen and Bank of America, with ratings changed from "buy" to "hold" and "neutral," respectively, while the price target was lowered from $45 to $38.
• The company's stock opened at $30.52, with a market cap of $1.24 billion, and it reported a quarterly revenue increase of 8.9% year-over-year, reaching $157.11 million.
• Insider trading activity includes CEO Warren B. Kanders selling 25,000 shares for approximately $819,500, with insiders holding about 37% of the company’s stock.

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

Separately, Bank of America cut shares of Cadre from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $45.00 to $38.00 in a research note on Friday, June 13th.

Cadre Stock Performance

Shares of CDRE traded down $2.07 during trading hours on Friday, reaching $28.48. 434,548 shares of the company traded hands, compared to its average volume of 289,416. The stock's fifty day moving average is $33.03 and its 200 day moving average is $33.01. The stock has a market cap of $1.16 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.56 and a current ratio of 3.59. Cadre has a 1-year low of $27.07 and a 1-year high of $40.28.

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

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.095 dividend. The ex-dividend date is Friday, August 1st. This represents a $0.38 annualized dividend and a yield of 1.3%. Cadre's dividend payout ratio (DPR) is 40.43%.

Insiders Place Their Bets

In other news, CEO Warren B. Kanders sold 25,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.78, for a total transaction of $819,500.00. Following the completion of the sale, the chief executive officer owned 10,216,192 shares of the company's stock, valued at $334,886,773.76. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 275,000 shares of company stock valued at $9,309,000 in the last quarter. Company insiders own 37.00% of the company's stock.

Institutional Investors Weigh In On Cadre

Several large investors have recently made changes to their positions in CDRE. Huntington National Bank increased its position in shares of Cadre by 48.4% during the second quarter. Huntington National Bank now owns 960 shares of the company's stock worth $31,000 after acquiring an additional 313 shares in the last quarter. Assetmark Inc. increased its position in shares of Cadre by 43.1% during the second quarter. Assetmark Inc. now owns 1,395 shares of the company's stock worth $44,000 after acquiring an additional 420 shares in the last quarter. Militia Capital Partners LP bought a new stake in shares of Cadre during the first quarter worth $49,000. State of Wyoming bought a new stake in shares of Cadre during the first quarter worth $69,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Cadre by 37.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,221 shares of the company's stock valued at $125,000 after purchasing an additional 1,155 shares in the last quarter. 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.