Cadre's (CDRE) Buy Rating Reaffirmed at Roth Capital

Key Points

• Roth Capital reaffirmed its “buy” rating on Cadre and raised its price target from $40 to $43, implying approximately 31% upside from the previous close.
• Analyst sentiment remains positive, with Cadre holding a “Moderate Buy” consensus rating and an average price target of $42.17; JPMorgan also raised its target to $45.
• Cadre exceeded quarterly expectations, reporting $0.26 in earnings per share versus estimates of $0.22 and revenue of $207.13 million versus the $178.29 million consensus.

Cadre (NYSE:CDRE - Get Free Report)'s stock had its "buy" rating restated by Roth Capital in a report issued on Monday,Benzinga reports. They currently have a $43.00 price target on the stock, up from their prior price target of $40.00. Roth Capital's price objective points to a potential upside of 31.11% from the stock's previous close.

Several other research analysts have also commented on CDRE. JPMorgan Chase & Co. raised their price objective on Cadre from $40.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday. Jefferies Financial Group reissued a "buy" rating and set a $43.00 target price on shares of Cadre in a research report on Sunday. Wall Street Zen upgraded shares of Cadre from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group set a $43.00 price target on shares of Cadre in a report on Monday. Finally, Weiss Ratings downgraded shares of Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.17.

Cadre Trading Down 0.1%

CDRE stock traded down $0.02 on Monday, hitting $32.80. 163,364 shares of the company were exchanged, compared to its average volume of 371,858. Cadre has a twelve month low of $25.73 and a twelve month high of $48.76. The business's fifty day moving average is $29.78 and its two-hundred day moving average is $33.53. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 38.50 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 (NYSE:CDRE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $207.13 million for the quarter, compared to analyst estimates of $178.29 million. Cadre had a return on equity of 12.02% and a net margin of 5.26%. As a group, research analysts forecast that Cadre will post 1.47 earnings per share for the current year.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 9,817,039 shares in the company, valued at approximately $294,805,681.17. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 175,000 shares of company stock worth $5,091,500. Corporate insiders own 30.10% of the company's stock.

Institutional Trading of Cadre

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV bought a new position in Cadre during the 1st quarter valued at $41,000. Danske Bank A S raised its stake in shares of Cadre by 400.0% in the 4th quarter. Danske Bank A S now owns 1,500 shares of the company's stock valued at $61,000 after purchasing an additional 1,200 shares in the last quarter. State of Wyoming acquired a new stake in shares of Cadre in the 4th quarter valued at about $65,000. Assetmark Inc. lifted its position in shares of Cadre by 34.6% during the first quarter. Assetmark Inc. now owns 1,878 shares of the company's stock worth $58,000 after purchasing an additional 483 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Cadre by 110.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock worth $136,000 after purchasing an additional 2,246 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

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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