Cadre (NYSE:CDRE) Reaches New 1-Year High After Strong Earnings

Cadre Holdings, Inc. (NYSE:CDRE)’s share price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $45.61 and last traded at $44.1120, with a volume of 26085 shares. The stock had previously closed at $42.53.

The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $155.87 million during the quarter, compared to analysts’ expectations of $158.96 million. Cadre had a return on equity of 12.08% and a net margin of 6.65%.The business’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Cadre has set its FY 2025 guidance at EPS.

Cadre Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.9%. Cadre’s dividend payout ratio (DPR) is presently 40.43%.

Analyst Ratings Changes

CDRE has been the subject of a number of recent analyst reports. Bank of America cut 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 issued a $44.00 price objective on shares of Cadre in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadre in a research report on Wednesday, October 8th. Lake Street Capital raised their price objective on Cadre from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen raised Cadre from a “hold” rating to a “buy” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $37.50.

Hedge Funds Weigh In On Cadre

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank increased its stake in shares of Cadre by 48.4% in the 2nd quarter. Huntington National Bank now owns 960 shares of the company’s stock valued at $31,000 after purchasing an additional 313 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Cadre by 585.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock valued at $35,000 after purchasing an additional 832 shares in the last quarter. Assetmark Inc. increased its stake in shares of Cadre by 43.1% in the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock valued at $44,000 after purchasing an additional 420 shares in the last quarter. Militia Capital Partners LP purchased a new position in shares of Cadre in the 1st quarter valued at about $49,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Cadre in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Trading Up 4.0%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.56 and a current ratio of 3.59. The company has a 50 day moving average of $36.78 and a two-hundred day moving average of $33.95. The stock has a market cap of $1.80 billion, a PE ratio of 47.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36.

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.