Central Garden & Pet (NASDAQ:CENT) Trading Up 5.3% – Should You Buy?

Central Garden & Pet (NASDAQ:CENT) traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $42.92 and last traded at $42.83. 64,217 shares were traded during trading, a decline of 44% from the average session volume of 115,457 shares. The stock had previously closed at $40.69.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CENT. Canaccord Genuity Group lowered their price target on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Truist Financial lowered their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Trading Up 7.5 %

The firm has a market cap of $2.87 billion, a PE ratio of 26.65 and a beta of 0.81. The company has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $38.07. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The business had revenue of $669.49 million for the quarter, compared to analyst estimates of $707.83 million. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Central Garden & Pet

Large investors have recently modified their holdings of the stock. Glenmede Trust Co. NA increased its holdings in Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after buying an additional 395 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Central Garden & Pet by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock worth $330,000 after buying an additional 464 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Central Garden & Pet by 10.3% in the 2nd quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock valued at $356,000 after buying an additional 861 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after buying an additional 1,016 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Central Garden & Pet by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock worth $808,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 16.13% 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.