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

Cadre Holdings, Inc. (NYSE:CDRE)’s stock price gapped up before the market opened 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.

A number of other research firms also recently weighed in on CDRE. CJS Securities raised shares of Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Cadre from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. Roth Mkm boosted their target price on shares of Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $53.00 price target on shares of Cadre in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $43.00.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cadre

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC bought a new position in Cadre in the 4th quarter valued at about $212,000. Truist Financial Corp raised its stake in shares of Cadre by 33.1% in the fourth quarter. Truist Financial Corp now owns 7,334 shares of the company’s stock worth $300,000 after purchasing an additional 1,823 shares during the last quarter. Danske Bank A S lifted its holdings in shares of Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company’s stock valued at $61,000 after purchasing an additional 1,200 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Cadre during the fourth quarter valued at approximately $243,000. Finally, Round Rock Advisors LLC bought a new stake in Cadre during the fourth quarter worth $383,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Price Performance

The company has a current ratio of 3.64, a quick ratio of 2.58 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $42.20 and a 200 day moving average of $38.37. The firm has a market capitalization 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.

Cadre (NYSE:CDRE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $155.87 million for the quarter, compared to the consensus estimate of $158.96 million. Cadre had a net margin of 7.33% and a return on equity of 13.94%. The business’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, research analysts anticipate that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Cadre Increases Dividend

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

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.