Cadre (NYSE:CDRE) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Cadre Holdings, Inc. (NYSE:CDRE) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $32.13 and traded as high as $33.99. Cadre shares last traded at $32.20, with a volume of 593,808 shares traded.

Analyst Upgrades and Downgrades

CDRE has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $43.00 price objective on shares of Cadre in a research note on Sunday, August 9th. Roth Capital reiterated a “buy” rating and issued a $43.00 target price (up from $40.00) on shares of Cadre in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadre in a report on Monday, August 17th. JPMorgan Chase & Co. reduced their price target on Cadre from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, UBS Group set a $43.00 price target on Cadre in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Cadre has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Cadre Stock Up 4.4%

The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02. The firm’s 50 day simple moving average is $27.87 and its two-hundred day simple moving average is $32.13. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 1.04 and a beta of 1.29.

Cadre (NYSE:CDRE) last released its earnings results on Wednesday, November 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $202.88 million during the quarter, compared to the consensus estimate of $190.67 million. Cadre had a return on equity of 13.59% and a net margin of 5.61%. On average, equities analysts forecast that Cadre Holdings, Inc. will post 1.33 EPS for the current year.

Cadre Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, October 30th. Cadre’s payout ratio is currently 42.11%.

Insider Buying and Selling

In other news, CEO Warren Kanders sold 100,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $33.36, for a total value of $3,336,000.00. Following the completion of the transaction, the chief executive officer owned 9,517,039 shares of the company’s stock, valued at approximately $317,488,421.04. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Cadre

Several hedge funds and other institutional investors have recently made changes to their positions in CDRE. BlackRock Inc. acquired a new position in Cadre during the 2nd quarter worth approximately $83,730,000. Reinhart Partners LLC. lifted its stake in Cadre by 22.4% in the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock valued at $78,071,000 after purchasing an additional 500,476 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cadre by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company’s stock valued at $23,530,000 after buying an additional 60,382 shares in the last quarter. Bank of America Corp DE acquired a new stake in Cadre in the second quarter valued at approximately $18,984,000. Finally, Corbyn Investment Management Inc. MD boosted its position in Cadre by 41.4% in the third quarter. Corbyn Investment Management Inc. MD now owns 224,730 shares of the company’s stock valued at $5,638,000 after buying an additional 65,794 shares in the last quarter. 43.95% of the stock is owned by institutional investors.

About Cadre

Cadre Holdings, Inc is a manufacturer and supplier of equipment used by law enforcement, military personnel, first responders and other public-safety professionals. The company develops products designed to protect personnel, support mission readiness and improve operational performance in demanding environments.

Cadre’s product portfolio includes body armor, tactical equipment, duty gear, holsters, helmets, protective apparel, restraints and related accessories. Its brands also provide equipment for explosive-ordnance disposal, emergency rescue and water-safety applications.