Central Garden & Pet (NASDAQ:CENTA) Shares Pass Below 200-Day Moving Average – Here’s Why

Central Garden & Pet (NASDAQ:CENTA) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.39 and traded as low as $30.48. Central Garden & Pet shares last traded at $31.21, with a volume of 178,492 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on CENTA. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Argus cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Central Garden & Pet Price Performance

The stock’s 50-day moving average is $32.87 and its 200 day moving average is $32.38. 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 company has a market cap of $2.03 billion, a PE ratio of 19.13 and a beta of 0.76.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.02. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. On average, equities analysts anticipate that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Central Garden & Pet

Several large investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in shares of Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after purchasing an additional 629 shares during the period. KBC Group NV raised its position in Central Garden & Pet by 43.8% during the 3rd quarter. KBC Group NV now owns 2,402 shares of the company’s stock worth $75,000 after buying an additional 732 shares during the last quarter. CWM LLC boosted its holdings in shares of Central Garden & Pet by 72.6% in the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock valued at $61,000 after acquiring an additional 823 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Central Garden & Pet by 7.8% in the second quarter. AQR Capital Management LLC now owns 13,348 shares of the company’s stock worth $441,000 after acquiring an additional 968 shares during the period. Finally, Olstein Capital Management L.P. lifted its position in Central Garden & Pet by 1.3% during the fourth quarter. Olstein Capital Management L.P. now owns 77,000 shares of the company’s stock valued at $2,545,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 50.82% 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.