Central Garden & Pet (NASDAQ:CENTA) Stock Price Down 4.4% – Here’s Why

Central Garden & Pet (NASDAQ:CENTA) dropped 4.4% during mid-day trading on Friday . The company traded as low as $32.43 and last traded at $32.69. Approximately 26,730 shares traded hands during trading, a decline of 89% from the average daily volume of 247,692 shares. The stock had previously closed at $34.19.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Central Garden & Pet Trading Down 2.6 %

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 business’s 50-day simple moving average is $32.64 and its two-hundred day simple moving average is $32.29. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.60 and a beta of 0.76.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. On average, research analysts anticipate that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently made changes to their positions in CENTA. Smartleaf Asset Management LLC boosted its stake in Central Garden & Pet by 668.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock valued at $31,000 after purchasing an additional 809 shares in the last quarter. CWM LLC lifted its holdings in shares of Central Garden & Pet by 72.6% during the third quarter. CWM LLC now owns 1,957 shares of the company’s stock valued at $61,000 after purchasing an additional 823 shares during the last quarter. KBC Group NV increased its stake in Central Garden & Pet by 43.8% in the 3rd quarter. KBC Group NV now owns 2,402 shares of the company’s stock worth $75,000 after purchasing an additional 732 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Central Garden & Pet during the fourth quarter valued at about $102,000. Finally, Quantbot Technologies LP raised its holdings in shares of Central Garden & Pet by 253.7% during the third quarter. Quantbot Technologies LP now owns 3,891 shares of the company’s stock valued at $122,000 after acquiring an additional 2,791 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

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.