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

Posted by Defense World Staff on Mar 7th, 2024

Shares of Cadre Holdings, Inc. (NYSE:CDRE – Get Free Report) gapped up before the market opened on Wednesday after Stifel Nicolaus raised their price target on the stock from $33.00 to $34.00. The stock had previously closed at $36.98, but opened at $38.85. Stifel Nicolaus currently has a hold rating on the stock. Cadre shares last traded at $35.75, with a volume of 114,820 shares.

CDRE has been the subject of a number of other reports. Roth Mkm increased their price objective on Cadre from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Raymond James lowered shares of Cadre from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. B. Riley reiterated a “buy” rating and set a $48.00 price objective (up previously from $40.00) on shares of Cadre in a research note on Wednesday. Finally, Stephens upped their target price on shares of Cadre from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Check Out Our Latest Report on CDRE

Insider Buying and Selling at Cadre

In other Cadre news, President Blaine Browers sold 7,436 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $32.57, for a total value of $242,190.52. Following the transaction, the president now directly owns 77,633 shares of the company’s stock, valued at approximately $2,528,506.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 49.20% of the company’s stock.

Institutional Trading of Cadre

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Cadre by 12.4% in the 3rd quarter. FMR LLC now owns 5,637,904 shares of the company’s stock valued at $150,250,000 after purchasing an additional 621,116 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cadre by 56.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,944 shares of the company’s stock valued at $105,000 after buying an additional 1,424 shares during the period. Swiss National Bank grew its position in Cadre by 12.8% during the third quarter. Swiss National Bank now owns 41,300 shares of the company’s stock worth $1,101,000 after buying an additional 4,700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Cadre by 89.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,507 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the period. Finally, Covestor Ltd raised its holdings in Cadre by 49,625.0% in the 3rd quarter. Covestor Ltd now owns 1,989 shares of the company’s stock valued at $53,000 after acquiring an additional 1,985 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors.

Cadre Trading Up 0.4 %

The stock has a market capitalization of $1.40 billion, a P/E ratio of 39.49 and a beta of 1.34. The company has a current ratio of 2.64, a quick ratio of 1.72 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $34.24 and a two-hundred day moving average price of $30.69.

Cadre Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 2nd were given a dividend of $0.0875 per share. This is a boost from Cadre’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 1st. This represents a $0.35 annualized dividend and a yield of 0.94%. Cadre’s dividend payout ratio is currently 37.23%.

About Cadre

(Get Free Report)

Cadre Holdings, Inc manufactures and distributes safety and survivability equipment 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 and law enforcement equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.

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