Central Garden & Pet (NASDAQ:CENT) Sets New 1-Year Low - Time to Sell?

Key Points

• Central Garden & Pet's stock has hit a new 52-week low, trading at $31.88, a decrease from the previous close of $32.31.
• Zacks Research has downgraded the company's rating from "strong-buy" to "hold", with a consensus price target of $40.00.
• Despite a quarterly EPS of $1.56 beating estimates of $1.34, the company reported a 3.6% drop in revenue from the previous year, totaling $960.91 million.

Central Garden & Pet Company (NASDAQ:CENT - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as $31.88 and last traded at $32.03, with a volume of 6576 shares. The stock had previously closed at $32.31.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.00.

Central Garden & Pet Stock Down 1.2%

The firm has a market cap of $2.01 billion, a P/E ratio of 14.51 and a beta of 0.67. The firm's fifty day moving average is $36.27 and its 200 day moving average is $36.03. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $960.91 million during the quarter, compared to analysts' expectations of $993.66 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business's revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new stake in shares of Central Garden & Pet during the 1st quarter valued at approximately $33,000. Stenger Family Office LLC bought a new stake in Central Garden & Pet during the 2nd quarter worth $48,000. CWM LLC increased its holdings in Central Garden & Pet by 222.4% in the 2nd quarter. CWM LLC now owns 1,412 shares of the company's stock worth $50,000 after purchasing an additional 974 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Central Garden & Pet by 152.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company's stock valued at $68,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Simplex Trading LLC raised its position in Central Garden & Pet by 136.2% in the first quarter. Simplex Trading LLC now owns 2,048 shares of the company's stock valued at $75,000 after purchasing an additional 1,181 shares during the last quarter. 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.

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