Central Garden & Pet (NASDAQ:CENT) Sees Large Volume Increase

Shares of Central Garden & Pet (NASDAQ:CENT) saw an uptick in trading volume on Tuesday . 201,629 shares traded hands during trading, an increase of 75% from the previous session’s volume of 114,949 shares.The stock last traded at $42.00 and had previously closed at $40.23.

Analysts Set New Price Targets

Several research firms have recently commented on CENT. TheStreet upgraded shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company. Truist Financial boosted their price target on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company.

Central Garden & Pet Stock Performance

The business’s 50-day moving average price is $41.86 and its 200-day moving average price is $35.43. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.74 billion, a PE ratio of 20.19 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The firm had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. As a group, equities research analysts expect that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now owns 41 shares of the company’s stock, valued at approximately $1,571.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now owns 41 shares of the company’s stock, valued at approximately $1,571.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Howard Machek sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total transaction of $182,000.00. Following the sale, the chief accounting officer now directly owns 59,406 shares in the company, valued at approximately $2,162,378.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,822 shares of company stock valued at $965,026. Insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

Large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in shares of Central Garden & Pet in the 3rd quarter valued at $98,000. Assenagon Asset Management S.A. acquired a new position in shares of Central Garden & Pet in the 3rd quarter valued at $148,000. Caprock Group LLC acquired a new position in shares of Central Garden & Pet in the 3rd quarter valued at $211,000. Louisiana State Employees Retirement System acquired a new position in shares of Central Garden & Pet in the 4th quarter valued at $241,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Central Garden & Pet by 28.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock valued at $243,000 after purchasing an additional 1,070 shares during the period. 16.13% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Company Profile

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.