Stock Track | Cadre Holdings Soars 8.75% on Strong Q3 Earnings Beat

Stock Track11-06

Shares of Cadre Holdings, Inc. (CDRE) are soaring 8.75% in Wednesday's trading session following the release of its impressive third-quarter earnings report. The company, which operates in the aerospace and defense sector, delivered results that surpassed analyst expectations, demonstrating robust growth and financial performance.

Cadre Holdings reported adjusted earnings of 27 cents per share for the quarter ended September 30, beating the mean analyst estimate of 26 cents. This performance marks a significant improvement from the 9 cents per share reported in the same quarter last year. Revenue also saw a substantial increase, rising 42.5% to $155.87 million, although it fell slightly short of the $157.96 million expected by analysts.

The strong quarterly results have reinforced positive sentiment among Wall Street analysts. The current average analyst rating on Cadre Holdings' shares is "buy," with 5 out of 7 analysts recommending either a "strong buy" or "buy." The median 12-month price target stands at $46.50, suggesting further upside potential of about 8.5% from its last closing price. This optimistic outlook, coupled with the company's consistent earnings beats in recent quarters, appears to be fueling investor enthusiasm and driving the stock's significant intraday surge.

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