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

Shares of Cadre Holdings, Inc. (NYSE:CDRE) gapped down prior to trading 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 changing hands.

Hedge Funds Weigh In On Cadre

Several hedge funds have recently modified their holdings of CDRE. Vanguard Group Inc. boosted its position in Cadre by 21.2% in 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 position 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 acquiring an additional 113,722 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cadre by 30.2% during the second quarter. Dimensional Fund Advisors LP now owns 411,056 shares of the company’s stock worth $13,794,000 after buying an additional 95,233 shares during the period. Fred Alger Management LLC increased its position in Cadre by 19.6% during the second quarter. Fred Alger Management LLC now owns 393,638 shares of the company’s stock worth $13,210,000 after buying an additional 64,543 shares during the period. Finally, Zimmer Partners LP acquired a new position in Cadre during the first quarter worth approximately $11,990,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Stock Down 8.5 %

The firm has a 50 day simple moving average of $36.97 and a two-hundred day simple moving average of $34.92. The company has a market capitalization of $1.38 billion, a PE ratio of 32.88, a P/E/G ratio of 2.08 and a beta of 1.30. The company has a current ratio of 3.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.66.

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 firm had revenue of $109.41 million for the quarter, compared to the consensus estimate of $126.27 million. During the same period in the previous year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. Research analysts expect that Cadre Holdings, Inc. will post 1.04 EPS for the current year.

Cadre Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.0875 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.03%. Cadre’s dividend payout ratio (DPR) is 33.98%.

About Cadre

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.