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

Central Garden & Pet (NASDAQ:CENT) shares saw an uptick in trading volume on Tuesday . 204,164 shares were traded during mid-day trading, an increase of 114% from the previous session’s volume of 95,308 shares.The stock last traded at $35.69 and had previously closed at $37.51.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CENT shares. Canaccord Genuity Group decreased 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 cut shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $46.75.

Central Garden & Pet Stock Performance

The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $37.83 and a 200 day moving average of $37.57. The stock has a market cap of $2.35 billion, a PE ratio of 19.72 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data 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 net margin of 3.77% and a return on equity of 10.08%. Equities analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John D. Walker III sold 10,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the transaction, the insider now owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.19% of the stock is currently owned by company insiders.

Institutional Trading of Central Garden & Pet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock valued at $57,203,000 after acquiring an additional 125,418 shares during the period. Empowered Funds LLC acquired a new position in Central Garden & Pet during the third quarter worth $1,681,000. Charles Schwab Investment Management Inc. boosted its position in shares of Central Garden & Pet by 23.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company’s stock worth $5,365,000 after buying an additional 25,968 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Central Garden & Pet by 69.2% in the fourth quarter. JPMorgan Chase & Co. now owns 59,603 shares of the company’s stock valued at $2,313,000 after buying an additional 24,375 shares in the last quarter. Finally, Millennium Management LLC grew its position in Central Garden & Pet by 14.5% in the 4th quarter. Millennium Management LLC now owns 186,167 shares of the company’s stock valued at $7,223,000 after acquiring an additional 23,622 shares in the last quarter. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

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.