JPMorgan Chase & Co. Raises Cadre (NYSE:CDRE) Price Target to $45.00

Key Points

• JPMorgan raised Cadre’s price target from $40 to $45 and maintained an “overweight” rating, implying 34.65% upside from the previous close.
• Analyst sentiment is generally positive: Cadre has an average “Moderate Buy” rating and a consensus price target of $40.80, based on one Strong Buy, four Buys, two Holds and one Sell.
• Cadre exceeded quarterly expectations, reporting $0.26 in earnings per share versus $0.22 expected and revenue of $207.13 million versus the $178.29 million consensus estimate.

Cadre (NYSE:CDRE - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $40.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 34.65% from the stock's previous close.

Several other analysts also recently issued reports on CDRE. Zacks Research raised shares of Cadre from a "strong sell" rating to a "hold" rating in a report on Thursday, June 4th. Weiss Ratings downgraded Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Jefferies Financial Group set a $40.00 price objective on Cadre in a research report on Wednesday, May 13th. Finally, Roth Capital reiterated a "buy" rating and set a $40.00 price objective on shares of Cadre in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cadre currently has an average rating of "Moderate Buy" and an average price target of $40.80.

Cadre Price Performance

Shares of NYSE:CDRE traded down $1.60 during midday trading on Friday, hitting $33.42. 136,280 shares of the stock were exchanged, compared to its average volume of 370,849. The stock has a market cap of $1.43 billion, a P/E ratio of 39.30 and a beta of 1.32. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. Cadre has a twelve month low of $25.73 and a twelve month high of $48.76. The company has a 50 day moving average price of $29.74 and a 200-day moving average price of $33.61.

Cadre (NYSE:CDRE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 EPS 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 net margin of 5.26% and a return on equity of 12.16%. On average, research analysts forecast that Cadre will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the stock in a transaction 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 transaction, the chief executive officer owned 9,817,039 shares of the company's stock, valued at $294,805,681.17. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 175,000 shares of company stock valued at $5,091,500. Insiders own 30.10% of the company's stock.

Hedge Funds Weigh In On Cadre

Large investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new stake in Cadre in the 1st quarter valued at about $41,000. Danske Bank A S grew its holdings in Cadre by 400.0% in the fourth 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 during the period. State of Wyoming purchased a new stake in Cadre in the fourth quarter valued at approximately $65,000. Assetmark Inc. increased its position in 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 raised its stake in Cadre by 110.3% during 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 during the period. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

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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