Cadre (NYSE:CDRE) Sets New 52-Week Low - Here's What Happened

Key Points

• Cadre shares fell to a new 52-week low of $24.42, below the 50-day and 200-day moving averages near $30.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with an average price target of $45.00, while the company recently exceeded quarterly earnings and revenue estimates.
• Cadre declared a quarterly dividend of $0.10, representing a 1.6% annualized yield; meanwhile, CEO Warren Kanders sold 100,000 shares at an average price of $33.36.

Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) shares hit a new 52-week low on Monday. The company traded as low as $24.42 and last traded at $24.77, with a volume of 517021 shares trading hands. The stock had previously closed at $25.00.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CDRE. Wall Street Zen raised Cadre from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Cadre in a research report on Monday, August 17th. Jefferies Financial Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Cadre in a research report on Sunday, August 9th. DA Davidson raised their price objective on Cadre from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Finally, UBS Group set a $43.00 target price on shares of Cadre in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cadre currently has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Cadre Price Performance

The company has a 50 day moving average of $30.03 and a 200-day moving average of $30.12. 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 capitalization of $1.05 billion, a P/E ratio of 28.97, a PEG ratio of 0.84 and a beta of 1.33.

Cadre (NYSE:CDRE - Get Free Report) last released its quarterly earnings data 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 firm 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 12.02%. Sell-side analysts predict that Cadre Holdings, Inc. will post 1.33 EPS for the current year.

Cadre Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, July 31st. Cadre's dividend payout ratio (DPR) is 47.06%.

Insider Buying and Selling at Cadre

In other news, CEO Warren Kanders sold 100,000 shares of Cadre stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the sale, the chief executive officer owned 9,517,039 shares of the company's stock, valued at approximately $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 30.10% of the company's stock.

Hedge Funds Weigh In On Cadre

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Cadre during the 2nd quarter valued at $83,730,000. Bank of America Corp DE acquired a new stake in shares of Cadre in the second quarter worth $18,984,000. Reinhart Partners LLC. grew its stake in Cadre by 22.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock valued at $78,071,000 after acquiring an additional 500,476 shares in the last quarter. Fred Alger Management LLC increased its stake in Cadre by 46.8% in the 4th quarter. Fred Alger Management LLC now owns 623,730 shares of the company's stock valued at $25,473,000 after buying an additional 198,750 shares during the period. Finally, Agman Capital LLC purchased a new stake in shares of Cadre during the fourth quarter worth $7,364,000. Institutional investors own 43.95% of the company's stock.

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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