Cadre (NYSE:CDRE) Shares Gap Up After Analyst Upgrade

Cadre Holdings, Inc. (NYSE:CDRE)’s share price gapped up prior to trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $40.72, but opened at $43.55. Cadre shares last traded at $42.93, with a volume of 4,540 shares.

Several other research firms also recently weighed in on CDRE. B. Riley Financial reaffirmed a “buy” rating on shares of Cadre in a research note on Thursday, November 6th. Roth Mkm lifted their target price on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen lowered Cadre from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. CJS Securities raised shares of Cadre to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $43.00.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 86,903 shares of Cadre stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $39.00, for a total value of $3,389,217.00. Following the transaction, the chief executive officer owned 10,129,289 shares of the company’s stock, valued at $395,042,271. The trade was a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.50% of the company’s stock.

Hedge Funds Weigh In On Cadre

Institutional investors and hedge funds have recently bought and sold shares of the company. Reinhart Partners LLC. purchased a new stake in shares of Cadre during the 3rd quarter valued at $70,205,000. Ophir Asset Management Pty Ltd acquired a new position in Cadre during the 2nd quarter valued at about $21,872,000. Vanguard Group Inc. raised its stake in Cadre by 15.2% in the third quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after buying an additional 224,218 shares during the last quarter. Capital Research Global Investors boosted its holdings in Cadre by 30.6% in the third quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after acquiring an additional 217,864 shares in the last quarter. Finally, Greenhouse Funds LLLP grew its stake in shares of Cadre by 8.4% during 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 during the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

Cadre Price Performance

The company has a quick ratio of 2.58, a current ratio of 3.64 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.69 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The stock has a 50 day moving average price of $42.20 and a two-hundred day moving average price of $38.37.

Cadre (NYSE:CDRE) last released its earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Cadre had a net margin of 7.33% and a return on equity of 13.94%. The company had revenue of $155.87 million during the quarter, compared to analysts’ expectations of $158.96 million. During the same period last year, the business earned $0.09 EPS. Cadre’s revenue for the quarter was up 42.5% on a year-over-year basis. As a group, equities analysts expect that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Cadre’s previous quarterly dividend of $0.10. Cadre’s payout ratio is currently 35.71%.

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.