Central Garden & Pet (NASDAQ:CENT) Reaches New 12-Month Low - What's Next?

Key Points

• Central Garden & Pet's shares hit a new 52-week low of $30.71 during trading, closing at $30.93.
• Analysts have downgraded the stock from a "strong-buy" to a "hold" rating, with a consensus price target of $40.00.
• The company reported earnings per share (EPS) of $1.56 for its last quarter, exceeding estimates, but its revenue decreased by 3.6% year-over-year.

Central Garden & Pet Company (NASDAQ:CENT - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $30.71 and last traded at $30.93, with a volume of 55023 shares trading hands. The stock had previously closed at $31.19.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Central Garden & Pet in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $40.00.

Central Garden & Pet Trading Down 0.8%

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 14.06 and a beta of 0.67. The company's 50 day moving average price is $35.62 and its 200 day moving average price is $35.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The business had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. Central Garden & Pet's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. Research analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, Director John Ranelli sold 3,076 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company's stock, valued at approximately $46,491.66. This trade represents a 68.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Walker III sold 3,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider owned 67,328 shares of the company's stock, valued at approximately $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CENT. Jane Street Group LLC bought a new position in Central Garden & Pet in the 1st quarter worth approximately $7,347,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Central Garden & Pet in the first quarter worth $2,934,000. Millennium Management LLC grew its stake in shares of Central Garden & Pet by 39.2% in the first quarter. Millennium Management LLC now owns 259,144 shares of the company's stock worth $9,500,000 after acquiring an additional 72,977 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Central Garden & Pet by 37.7% during the second quarter. Qube Research & Technologies Ltd now owns 149,156 shares of the company's stock worth $5,247,000 after acquiring an additional 40,803 shares during the period. Finally, American Century Companies Inc. raised its stake in Central Garden & Pet by 18.3% during the 1st quarter. American Century Companies Inc. now owns 236,681 shares of the company's stock valued at $8,677,000 after purchasing an additional 36,590 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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