Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – Time to Sell?

Central Garden & Pet (NASDAQ:CENTA) gapped down before the market opened on Tuesday . The stock had previously closed at $31.97, but opened at $31.27. Central Garden & Pet shares last traded at $31.00, with a volume of 27,267 shares trading hands.

Analyst Ratings Changes

CENTA has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Argus downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.33.

Central Garden & Pet Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The stock’s 50 day moving average price is $32.99 and its 200-day moving average price is $32.57. The company has a market cap of $2.01 billion, a PE ratio of 18.93 and a beta of 0.76.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Central Garden & Pet by 33.8% during the third quarter. FMR LLC now owns 76,388 shares of the company’s stock valued at $2,399,000 after acquiring an additional 19,306 shares during the last quarter. Barclays PLC increased its stake in shares of Central Garden & Pet by 161.7% during the third quarter. Barclays PLC now owns 122,530 shares of the company’s stock valued at $3,849,000 after buying an additional 75,718 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Central Garden & Pet by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock valued at $120,682,000 after acquiring an additional 29,780 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Central Garden & Pet by 215.8% in the second quarter. Hsbc Holdings PLC now owns 24,539 shares of the company’s stock worth $803,000 after acquiring an additional 16,768 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Central Garden & Pet by 1.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,100,751 shares of the company’s stock valued at $65,964,000 after acquiring an additional 38,077 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors.

About Central Garden & Pet

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.