Cadre (NYSE:CDRE) Rating Lowered to “Underperform” at Bank of America

Cadre (NYSE:CDRE) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Wednesday, Marketbeat reports. They presently have a $26.00 price target on the stock, down from their previous price target of $38.00. Bank of America‘s target price would suggest a potential downside of 10.68% from the stock’s previous close.

Separately, Wall Street Zen downgraded shares of Cadre from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Cadre Price Performance

Shares of NYSE CDRE traded down $0.11 on Wednesday, hitting $29.11. The company’s stock had a trading volume of 83,471 shares, compared to its average volume of 293,909. Cadre has a 12-month low of $27.07 and a 12-month high of $40.28. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.59 and a quick ratio of 2.56. The stock has a 50 day moving average of $32.68 and a 200-day moving average of $32.82.

Cadre (NYSE:CDRE) last released its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (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 firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, research analysts predict that Cadre will post 1.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $34.86, for a total value of $3,486,000.00. Following the transaction, the chief executive officer owned 10,716,192 shares of the company’s stock, valued at approximately $373,566,453.12. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 275,000 shares of company stock worth $9,309,000 over the last quarter. Company insiders own 31.50% of the company’s stock.

Institutional Trading of Cadre

Hedge funds have recently made changes to their positions in the company. Huntington National Bank increased its stake in Cadre by 48.4% during the 2nd quarter. Huntington National Bank now owns 960 shares of the company’s stock worth $31,000 after buying an additional 313 shares during the period. Assetmark Inc. increased its stake in Cadre by 43.1% during the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock worth $44,000 after buying an additional 420 shares during the period. Militia Capital Partners LP purchased a new stake in Cadre during the 1st quarter worth $49,000. State of Wyoming purchased a new stake in Cadre during the 1st quarter worth $69,000. Finally, Ameritas Investment Partners Inc. increased its stake in Cadre by 14.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock worth $93,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Company Profile

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.