Central Garden & Pet (NASDAQ:CENT) Trading Down 6.5% – What’s Next?

Shares of Central Garden & Pet (NASDAQ:CENT) fell 6.5% on Friday . The stock traded as low as $34.45 and last traded at $33.98. 190,855 shares were traded during trading, an increase of 60% from the average session volume of 119,247 shares. The stock had previously closed at $36.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Argus lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group cut their price objective on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Down 6.7 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The stock’s fifty day simple moving average is $36.78 and its 200-day simple moving average is $37.20. The stock has a market cap of $2.22 billion, a P/E ratio of 18.58 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. On average, research analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the sale, the insider now owns 67,111 shares of the company’s stock, valued at $2,205,267.46. The trade was a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.19% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in shares of Central Garden & Pet during the 3rd quarter worth about $272,000. Empowered Funds LLC acquired a new position in shares of Central Garden & Pet during the third quarter valued at approximately $1,681,000. Quest Partners LLC acquired a new position in shares of Central Garden & Pet during the third quarter valued at approximately $797,000. Charles Schwab Investment Management Inc. raised its holdings in Central Garden & Pet by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,671 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Central Garden & Pet by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock worth $330,000 after purchasing an additional 464 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.