Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – Here’s Why

Central Garden & Pet (NASDAQ:CENTA) gapped down before the market opened on Tuesday . The stock had previously closed at $33.22, but opened at $32.15. Central Garden & Pet shares last traded at $34.13, with a volume of 62,258 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.33.

Central Garden & Pet Trading Up 1.1 %

The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.30 billion, a P/E ratio of 21.09 and a beta of 0.73. The firm’s 50 day simple moving average is $30.82 and its two-hundred day simple moving average is $33.23.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The trade was a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently bought and sold shares of CENTA. Quarry LP grew its holdings in shares of Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after buying an additional 629 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Central Garden & Pet during the second quarter valued at about $26,000. CWM LLC grew its holdings in shares of Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after buying an additional 1,103 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Central Garden & Pet during the second quarter valued at about $37,000. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Central Garden & Pet by 37.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after buying an additional 449 shares during the last quarter. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.