Argus Downgrades Central Garden & Pet (NASDAQ:CENTA) to Hold

Argus cut shares of Central Garden & Pet (NASDAQ:CENTA) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat Ratings reports.

Several other research firms also recently commented on CENTA. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

Central Garden & Pet Stock Performance

CENTA opened at $30.63 on Tuesday. The business has a 50 day moving average of $33.02 and a 200-day moving average of $32.55. Central Garden & Pet has a 12-month low of $27.70 and a 12-month high of $41.03. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 18.93 and a beta of 0.76. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after acquiring an additional 629 shares during the period. Federated Hermes Inc. acquired a new position in shares of Central Garden & Pet in the 2nd quarter worth approximately $26,000. Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Central Garden & Pet during the second quarter worth $61,000. Finally, CWM LLC raised its stake in Central Garden & Pet by 72.6% during the third quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after buying an additional 823 shares during the last quarter. Institutional investors own 50.82% of the company’s stock.

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.