Central Garden & Pet (NASDAQ:CENT) Trading Down 6.5% – Time to Sell?

Central Garden & Pet (NASDAQ:CENT) shares dropped 6.5% on Friday . The stock traded as low as $34.45 and last traded at $33.98. Approximately 190,855 shares changed hands during trading, an increase of 60% from the average daily volume of 119,247 shares. The stock had previously closed at $36.34.

Wall Street Analyst Weigh In

CENT has been the subject of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company 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 report 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Down 7.3 %

The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2.21 billion, a P/E ratio of 18.50 and a beta of 0.73. The company’s fifty day simple moving average is $36.75 and its 200 day simple moving average is $37.14.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 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%. Research analysts expect that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, insider John D. Walker III sold 10,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the transaction, the insider now directly owns 67,111 shares in the company, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in shares of Central Garden & Pet by 693.6% in the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after acquiring an additional 1,089 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Central Garden & Pet during the 4th quarter valued at about $58,000. Glenmede Trust Co. NA increased its stake in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after purchasing an additional 395 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Central Garden & Pet by 201.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company’s stock valued at $148,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Amundi increased its stake in Central Garden & Pet by 193.8% during the 4th quarter. Amundi now owns 4,201 shares of the company’s stock valued at $151,000 after purchasing an additional 2,771 shares in the last quarter. 16.13% of the stock is currently owned by institutional investors.

About Central Garden & Pet

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.