Central Garden & Pet (NASDAQ:CENT) Stock Price Down 5.1% – What’s Next?

Central Garden & Pet (NASDAQ:CENT) traded down 5.1% on Friday . The stock traded as low as $38.21 and last traded at $38.13. 10,658 shares changed hands during trading, a decline of 88% from the average session volume of 89,702 shares. The stock had previously closed at $40.16.

Analysts Set New Price Targets

CENT has been the topic of several recent research reports. Canaccord Genuity Group dropped their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Argus downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Truist Financial dropped their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Central Garden & Pet currently has an average rating of “Buy” and a consensus target price of $46.75.

Central Garden & Pet Stock Down 3.3 %

The company has a market cap of $2.55 billion, a P/E ratio of 23.99 and a beta of 0.79. The company has a 50 day moving average of $38.38 and a 200-day moving average of $37.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share (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, equities analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CENT. Versant Capital Management Inc increased its holdings in Central Garden & Pet by 693.6% during the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after purchasing an additional 1,089 shares during the period. Glenmede Trust Co. NA lifted its position in Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after acquiring an additional 395 shares in the last quarter. SG Americas Securities LLC bought a new position in Central Garden & Pet in the 3rd quarter valued at approximately $111,000. Amundi lifted its position in Central Garden & Pet by 193.8% in the 4th quarter. Amundi now owns 4,201 shares of the company’s stock valued at $151,000 after acquiring an additional 2,771 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Central Garden & Pet by 29.0% during 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. Hedge funds and other institutional investors 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.