Cadre (NYSE:CDRE) Sets New 1-Year Low – Here’s Why

Cadre Holdings, Inc. (NYSE:CDRE) hit a new 52-week low on Monday. The stock traded as low as $25.64 and last traded at $25.8750, with a volume of 14649 shares changing hands. The stock had previously closed at $26.39.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen raised shares of Cadre from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Cadre in a research report on Monday, August 17th. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on Cadre from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $43.00 price objective on shares of Cadre in a report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Cadre Price Performance

The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average price of $30.48 and a two-hundred day moving average price of $30.44. The firm has a market cap of $1.12 billion, a P/E ratio of 30.87, a PEG ratio of 0.89 and a beta of 1.31.

Cadre (NYSE:CDRE) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Cadre had a return on equity of 12.02% and a net margin of 5.26%.The business had revenue of $207.13 million during the quarter, compared to analysts’ expectations of $178.29 million. Equities analysts anticipate that Cadre Holdings, Inc. will post 1.33 earnings per share for the current year.

Cadre Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. Cadre’s payout ratio is currently 47.06%.

Insiders Place Their Bets

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 9,517,039 shares in the company, valued at approximately $317,488,421.04. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Cadre during the second quarter worth about $83,730,000. Bank of America Corp DE acquired a new position in shares of Cadre during the 2nd quarter worth approximately $18,984,000. Reinhart Partners LLC. raised its stake 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 purchasing an additional 500,476 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of 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 last quarter. Finally, Agman Capital LLC bought a new position in shares of Cadre in the fourth quarter valued at $7,364,000. 43.95% of the stock is currently owned by institutional investors.

About Cadre

Cadre Holdings, Inc is a manufacturer of equipment designed to protect and support military personnel, law enforcement officers, first responders and other public-safety professionals. The company operates through a portfolio of specialized brands, including Safariland, and focuses on products used in high-risk and mission-critical environments.

Its products include body armor, tactical and duty equipment, holsters, protective apparel, forensic equipment, explosive ordnance disposal suits and related public-safety gear.