Cadre Holdings, Inc. (NYSE:CDRE) Stock Has Average Target Price of $43.33 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Nine analysts give Cadre Holdings a consensus “Moderate Buy” rating, with an average 12-month price target of $43.33 versus the stock’s reported $26.97 opening price.
• Cadre exceeded quarterly expectations, reporting adjusted EPS of $0.26 versus the $0.22 consensus and revenue of $207.13 million versus $178.29 million expected.
• Institutional ownership is significant at 43.95%, with BlackRock and Bank of America establishing new positions and Reinhart Partners increasing its stake; meanwhile, CEO Warren Kanders sold 100,000 shares while retaining more than 9.5 million shares.

Shares of Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $43.33.

Several analysts have recently commented on CDRE shares. DA Davidson increased their price target on shares of Cadre from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on shares of Cadre from $45.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Weiss Ratings restated a "hold (c)" rating on shares of Cadre in a report on Monday, August 17th. Jefferies Financial Group restated a "buy" rating and set a $43.00 target price on shares of Cadre in a report on Sunday, August 9th. Finally, Wall Street Zen upgraded Cadre from a "hold" rating to a "buy" rating in a report on Saturday, August 8th.

Cadre Stock Performance

NYSE:CDRE opened at $26.97 on Tuesday. Cadre has a fifty-two week low of $24.07 and a fifty-two week high of $48.76. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.15 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The firm's fifty day simple moving average is $28.63 and its 200-day simple moving average is $29.67.

Cadre (NYSE:CDRE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. Analysts expect that Cadre will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadre

In related news, CEO Warren Kanders sold 100,000 shares of Cadre stock in a transaction on Monday, August 24th. The shares were sold at an average price of $33.36, for a total value of $3,336,000.00. Following the completion of the sale, the chief executive officer owned 9,517,039 shares in the company, valued at approximately $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.10% of the company's stock.

Institutional Trading of Cadre

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Cadre during the second quarter worth $83,730,000. Bank of America Corp DE acquired a new position in shares of Cadre during the second quarter valued at $18,984,000. Reinhart Partners LLC. raised its position in shares of Cadre by 22.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock worth $78,071,000 after buying an additional 500,476 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Cadre during the second quarter worth approximately $5,082,000. Finally, First Trust Advisors LP lifted its holdings in shares of Cadre by 92.6% in the first quarter. First Trust Advisors LP now owns 223,898 shares of the company's stock valued at $6,869,000 after buying an additional 107,647 shares during the period. 43.95% of the stock is owned by institutional investors.

About Cadre

Cadre Holdings, Inc is a Jacksonville, Florida-based manufacturer of products designed to protect and equip law enforcement, military, public-safety and commercial customers. The company develops and supplies safety and survivability equipment intended for use in demanding operational environments.

Its product portfolio includes body armor, protective equipment, duty gear, holsters, tactical equipment, less-lethal systems, bomb-disposal and explosive-ordnance-disposal products, and equipment for chemical, biological, radiological and nuclear response.

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