Central Garden & Pet (NASDAQ:CENT) Stock Price Up 5.3% – What’s Next?

Central Garden & Pet (NASDAQ:CENT) shares shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $42.92 and last traded at $42.83. 64,217 shares were traded during trading, a decline of 44% from the average session volume of 115,457 shares. The stock had previously closed at $40.69.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial lowered their target price on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group decreased their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Central Garden & Pet has a consensus rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Down 4.2 %

The stock’s fifty day simple moving average is $37.39 and its two-hundred day simple moving average is $38.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 25.53 and a beta of 0.81.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The company had revenue of $669.49 million during the quarter, compared to analyst estimates of $707.83 million. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Glenmede Trust Co. NA boosted its position in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after acquiring an additional 395 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Central Garden & Pet by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock valued at $330,000 after purchasing an additional 464 shares in the last quarter. Inspire Investing LLC lifted its holdings in Central Garden & Pet by 10.3% in the second quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock worth $356,000 after purchasing an additional 861 shares during the period. Franklin Resources Inc. grew its position in Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after buying an additional 1,016 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Central Garden & Pet by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock valued at $808,000 after buying an additional 1,200 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

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.