Cadre (NYSE:CDRE) Raised to Strong-Buy at Wall Street Zen

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

A number of other equities research analysts also recently weighed in on CDRE. B. Riley Financial reissued a “buy” rating on shares of Cadre in a research note on Thursday, November 6th. Zacks Research raised shares of Cadre from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Roth Mkm upped their target price on shares of Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Lake Street Capital restated a “buy” rating and issued a $53.00 price target on shares of Cadre in a research report on Wednesday. Finally, CJS Securities upgraded Cadre to a “strong-buy” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $43.00.

Cadre Stock Performance

Shares of Cadre stock opened at $41.63 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. The firm has a 50 day simple moving average of $42.20 and a 200 day simple moving average of $38.37. Cadre has a fifty-two week low of $27.07 and a fifty-two week high of $46.64. The firm has a market cap of $1.69 billion, a P/E ratio of 37.17, a P/E/G ratio of 1.36 and a beta of 1.36.

Cadre (NYSE:CDRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The business had revenue of $155.87 million for the quarter, compared to analysts’ expectations of $158.96 million. During the same quarter last year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. Sell-side analysts predict that Cadre will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Cadre

In other news, CEO Warren B. Kanders sold 86,903 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $39.00, for a total transaction of $3,389,217.00. Following the sale, the chief executive officer owned 10,129,289 shares in the company, valued at $395,042,271. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 31.50% of the company’s stock.

Institutional Investors Weigh In On Cadre

Large investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC grew its stake in shares of Cadre by 3.8% in the third quarter. Rafferty Asset Management LLC now owns 7,003 shares of the company’s stock valued at $256,000 after acquiring an additional 259 shares in the last quarter. Huntington National Bank boosted its holdings in Cadre by 48.4% in the 2nd quarter. Huntington National Bank now owns 960 shares of the company’s stock valued at $31,000 after purchasing an additional 313 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Cadre by 14.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock valued at $93,000 after purchasing an additional 357 shares during the period. Assetmark Inc. grew its position in shares of Cadre by 43.1% during the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock worth $44,000 after purchasing an additional 420 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Cadre by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company’s stock worth $446,000 after purchasing an additional 438 shares during the period. Institutional investors own 43.95% of the company’s stock.

Cadre Company Profile

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.