Cadre (NYSE:CDRE) Shares Gap Down Following Analyst Downgrade

Cadre Holdings, Inc. (NYSE:CDRE)’s stock price gapped down before the market opened on Thursday after Roth Mkm lowered their price target on the stock from $39.00 to $37.00. The stock had previously closed at $37.15, but opened at $34.74. Roth Mkm currently has a buy rating on the stock. Cadre shares last traded at $34.34, with a volume of 62,104 shares.

Hedge Funds Weigh In On Cadre

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cadre by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 1,180,212 shares of the company’s stock worth $42,724,000 after purchasing an additional 206,564 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Cadre by 32.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 460,500 shares of the company’s stock worth $16,671,000 after purchasing an additional 113,722 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cadre by 30.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 411,056 shares of the company’s stock worth $13,794,000 after purchasing an additional 95,233 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Cadre by 19.6% during the 2nd quarter. Fred Alger Management LLC now owns 393,638 shares of the company’s stock worth $13,210,000 after purchasing an additional 64,543 shares in the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of Cadre during the 1st quarter worth approximately $11,990,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Trading Up 2.7 %

The business has a 50 day moving average price of $36.90 and a 200-day moving average price of $34.93. The company has a current ratio of 3.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.42 billion, a P/E ratio of 33.91, a PEG ratio of 2.08 and a beta of 1.30.

Cadre (NYSE:CDRE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Cadre had a return on equity of 17.45% and a net margin of 7.55%. The business had revenue of $109.41 million for the quarter, compared to analysts’ expectations of $126.27 million. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts forecast that Cadre Holdings, Inc. will post 1.04 earnings per share for the current fiscal year.

Cadre Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 1st. Cadre’s payout ratio is 33.98%.

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.