Cadre (NYSE:CDRE) Raised to “Buy” at Wall Street Zen

Cadre (NYSE:CDRE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Separately, Bank of America downgraded shares of Cadre from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $38.00 to $26.00 in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cadre currently has an average rating of “Hold” and a consensus target price of $31.50.

Cadre Price Performance

CDRE stock opened at $32.42 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.59 and a quick ratio of 2.56. Cadre has a 1 year low of $27.07 and a 1 year high of $40.28. The company has a 50 day simple moving average of $31.58 and a 200 day simple moving average of $32.05. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 1.19 and a beta of 1.30.

Cadre (NYSE:CDRE) last posted 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 company had revenue of $157.11 million for 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 company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. Research analysts anticipate that Cadre will post 1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Warren B. Kanders sold 50,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $33.01, for a total transaction of $1,650,500.00. Following the completion of the transaction, the chief executive officer directly owned 10,241,192 shares in the company, valued at approximately $338,061,747.92. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 125,000 shares of company stock valued at $4,167,500. Corporate insiders own 31.50% of the company’s stock.

Institutional Investors Weigh In On Cadre

Institutional investors have recently added to or reduced their stakes in the stock. Greenhouse Funds LLLP boosted its holdings in Cadre by 8.4% in the second quarter. Greenhouse Funds LLLP now owns 2,743,265 shares of the company’s stock worth $87,373,000 after acquiring an additional 213,298 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cadre by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company’s stock worth $42,415,000 after buying an additional 41,476 shares during the last quarter. Fred Alger Management LLC boosted its stake in Cadre by 20.9% during the first quarter. Fred Alger Management LLC now owns 826,528 shares of the company’s stock worth $24,473,000 after buying an additional 143,119 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new position in shares of Cadre in the 2nd quarter valued at $21,872,000. Finally, Geode Capital Management LLC raised its holdings in shares of Cadre by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 639,493 shares of the company’s stock valued at $20,370,000 after buying an additional 35,583 shares during the period. 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.