Central Garden & Pet (NASDAQ:CENT) Sees Strong Trading Volume – Time to Buy?

Shares of Central Garden & Pet (NASDAQ:CENT) saw strong trading volume on Monday . 356,210 shares were traded during mid-day trading, an increase of 171% from the previous session’s volume of 131,351 shares.The stock last traded at $35.78 and had previously closed at $33.67.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. 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 cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $45.00.

Central Garden & Pet Price Performance

The company’s 50-day moving average is $36.75 and its 200-day moving average is $37.13. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 19.55 and a beta of 0.73. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. Equities research analysts predict that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insider Transactions at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.19% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CENT. Vanguard Group Inc. increased its position in shares of Central Garden & Pet by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock worth $57,203,000 after buying an additional 125,418 shares during the period. Dimensional Fund Advisors LP grew its holdings in Central Garden & Pet by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company’s stock worth $30,920,000 after acquiring an additional 22,703 shares during the period. Northern Trust Corp raised its position in shares of Central Garden & Pet by 1.8% in the 4th quarter. Northern Trust Corp now owns 207,076 shares of the company’s stock worth $8,035,000 after acquiring an additional 3,655 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Central Garden & Pet by 12.7% in the 4th quarter. American Century Companies Inc. now owns 200,091 shares of the company’s stock valued at $7,764,000 after purchasing an additional 22,556 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Central Garden & Pet by 14.5% during the 4th quarter. Millennium Management LLC now owns 186,167 shares of the company’s stock valued at $7,223,000 after purchasing an additional 23,622 shares in the last quarter. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

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.