Shares of Cadre Holdings, Inc. (NYSE:CDRE – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $45.61 and last traded at $44.1120, with a volume of 26085 shares traded. The stock had previously closed at $42.53.
The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The business had revenue of $155.87 million during the quarter, compared to analyst estimates of $158.96 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 42.5% compared to the same quarter last year. Cadre has set its FY 2025 guidance at EPS.
Cadre Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, October 31st. Cadre’s dividend payout ratio is 33.93%.
Analysts Set New Price Targets
CDRE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadre in a research note on Wednesday, October 8th. Bank of America downgraded Cadre from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $38.00 to $26.00 in a research report on Wednesday, August 13th. Roth Capital reissued a “buy” rating and set a $44.00 price objective on shares of Cadre in a research note on Friday, October 10th. Wall Street Zen upgraded Cadre from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Lake Street Capital raised their price target on Cadre from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cadre presently has a consensus rating of “Hold” and a consensus price target of $37.67.
Check Out Our Latest Stock Report on CDRE
Institutional Trading of Cadre
A number of hedge funds have recently bought and sold shares of CDRE. Greenhouse Funds LLLP grew its position in Cadre by 8.4% during the second quarter. Greenhouse Funds LLLP now owns 2,743,265 shares of the company’s stock valued at $87,373,000 after acquiring an additional 213,298 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in shares of Cadre in the 3rd quarter valued at $70,205,000. Vanguard Group Inc. boosted its stake in shares of Cadre by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company’s stock valued at $42,415,000 after purchasing an additional 41,476 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Cadre by 20.9% during the 1st quarter. Fred Alger Management LLC now owns 826,528 shares of the company’s stock valued at $24,473,000 after purchasing an additional 143,119 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd purchased a new position in Cadre in the 2nd quarter worth $21,872,000. Institutional investors own 43.95% of the company’s stock.
Cadre Stock Performance
The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.56 and a current ratio of 3.64. The company has a market cap of $1.77 billion, a PE ratio of 38.87, a PEG ratio of 1.63 and a beta of 1.36. The business’s 50-day moving average is $37.32 and its 200 day moving average is $34.09.
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.
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ABMN Staff
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