Cadre (NYSE:CDRE) Shares Gap Down After 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.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CDRE. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Cadre by 454.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock worth $55,000 after buying an additional 1,331 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Cadre in the 2nd quarter valued at approximately $141,000. Truist Financial Corp acquired a new position in shares of Cadre in the second quarter valued at approximately $209,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cadre during the second quarter worth approximately $216,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cadre during the first quarter worth $225,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Trading Down 9.3 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.14 and a current ratio of 3.17. The stock has a market capitalization of $1.37 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30. The business’s 50-day moving average is $36.97 and its two-hundred day moving average is $34.92.

Cadre (NYSE:CDRE) last released its earnings results on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Cadre had a net margin of 7.55% and a return on equity of 17.45%. The company had revenue of $109.41 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same quarter last year, the business earned $0.29 EPS. The business’s revenue was down 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cadre Holdings, Inc. will post 1.04 earnings per share for the current year.

Cadre Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.35 annualized dividend and a dividend yield of 1.04%. Cadre’s payout ratio is currently 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.