Central Garden & Pet (NASDAQ:CENT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Central Garden & Pet (NASDAQ:CENT) saw unusually-high trading volume on Monday . Approximately 356,210 shares were traded during mid-day trading, an increase of 171% from the previous session’s volume of 131,351 shares.The stock last traded at $35.78 and had previously closed at $33.67.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CENT. Argus downgraded shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group dropped their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Buy” and a consensus target price of $45.00.

Central Garden & Pet Stock Up 5.7 %

The company has a market cap of $2.33 billion, a P/E ratio of 19.55 and a beta of 0.73. The stock has a fifty day moving average price of $36.75 and a two-hundred day moving average price of $37.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97.

Central Garden & Pet (NASDAQ:CENT) last posted its 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 net margin of 3.77% and a return on equity of 10.08%. On average, research analysts expect that Central Garden & Pet will post 2.38 EPS for the current year.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 10,000 shares of the business’s 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 transaction, the insider now directly owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.19% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of Central Garden & Pet by 1.1% during the 4th quarter. Rhumbline Advisers now owns 29,052 shares of the company’s stock valued at $1,127,000 after acquiring an additional 314 shares during the period. Glenmede Trust Co. NA lifted its stake in Central Garden & Pet by 23.2% in the third 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 during the last quarter. BNP Paribas Financial Markets grew its holdings in Central Garden & Pet by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock valued at $330,000 after purchasing an additional 464 shares during the period. Sei Investments Co. increased its position in Central Garden & Pet by 1.7% in the fourth quarter. Sei Investments Co. now owns 37,809 shares of the company’s stock worth $1,467,000 after buying an additional 632 shares during the last quarter. Finally, Barclays PLC increased its position in Central Garden & Pet by 2.3% in the fourth quarter. Barclays PLC now owns 35,763 shares of the company’s stock worth $1,388,000 after buying an additional 819 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

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.