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

Bank of America downgraded shares of Cadre (NYSE:CDRE) from a neutral rating to an underperform rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $26.00 target price on the stock, down from their prior target price of $38.00.

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

Cadre Price Performance

Shares of CDRE stock opened at $29.05 on Wednesday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.07 and a beta of 1.31. The business’s fifty day moving average is $32.57 and its 200 day moving average is $32.75. Cadre has a twelve month low of $27.07 and a twelve month high of $40.28. The company has a quick ratio of 2.56, a current ratio of 3.59 and a debt-to-equity ratio of 0.90.

Cadre (NYSE:CDRE) last released its earnings results on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Cadre had a return on equity of 12.08% and a net margin of 6.65%. The firm had revenue of $157.11 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts expect that Cadre will post 1.05 EPS for the current fiscal year.

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.38 dividend on an annualized basis and a yield of 1.3%. Cadre’s dividend payout ratio is currently 40.43%.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was 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 represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 275,000 shares of company stock valued at $9,309,000 over the last 90 days. 31.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Cadre by 118.4% in the fourth quarter. Capital International Investors now owns 1,981,602 shares of the company’s stock worth $64,006,000 after buying an additional 1,074,471 shares during the period. Ophir Asset Management Pty Ltd bought a new position in shares of Cadre in the second quarter worth about $21,872,000. Capital Research Global Investors bought a new position in shares of Cadre in the fourth quarter worth about $14,937,000. Select Equity Group L.P. raised its stake in shares of Cadre by 726.6% in the first quarter. Select Equity Group L.P. now owns 447,337 shares of the company’s stock worth $13,246,000 after buying an additional 393,218 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Cadre in the fourth quarter worth about $8,179,000. 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.