Central Garden & Pet (NASDAQ:CENT) Trading Down 6.5% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CENT. Canaccord Genuity Group dropped 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. Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $45.00.

Central Garden & Pet Stock Performance

The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $36.78 and a 200-day moving average of $37.20. The stock has a market cap of $2.22 billion, a PE ratio of 18.58 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share 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, equities analysts forecast that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Activity

In related news, insider John D. Walker III sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.19% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in Central Garden & Pet during the third quarter worth about $1,681,000. Quest Partners LLC acquired a new stake in shares of Central Garden & Pet in the third quarter worth approximately $797,000. JPMorgan Chase & Co. grew its holdings in Central Garden & Pet by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock valued at $1,285,000 after purchasing an additional 14,964 shares during the period. Proficio Capital Partners LLC acquired a new position in Central Garden & Pet during the fourth quarter worth approximately $682,000. Finally, Barclays PLC raised its stake in Central Garden & Pet by 51.4% during the third quarter. Barclays PLC now owns 34,944 shares of the company’s stock worth $1,275,000 after purchasing an additional 11,865 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

About Central Garden & Pet

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.