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Central Garden & Pet (NASDAQ:CENTA) Reaches New 52-Week High - Should You Buy?

Central Garden & Pet logo with Consumer Discretionary background

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.35 and last traded at $37.00, with a volume of 30034 shares. The stock had previously closed at $37.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial reaffirmed a "hold" rating and issued a $35.00 price target (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th.

Get Our Latest Analysis on Central Garden & Pet

Central Garden & Pet Stock Performance

The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 19.66 and a beta of 0.66. The company has a current ratio of 3.31, a quick ratio of 1.93 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $32.40 and a 200-day simple moving average of $31.80.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.94 by $0.10. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. The firm had revenue of $833.54 million during the quarter, compared to analysts' expectations of $876.36 million. Analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman William E. Brown sold 60,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $32.39, for a total transaction of $1,943,400.00. Following the completion of the transaction, the chairman directly owned 1,070,365 shares in the company, valued at $34,669,122.35. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 107,800 shares of company stock valued at $3,490,112 in the last quarter. 20.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Central Garden & Pet by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company's stock worth $197,606,000 after acquiring an additional 306,449 shares during the period. American Century Companies Inc. grew its position in Central Garden & Pet by 15.2% in the 1st quarter. American Century Companies Inc. now owns 1,581,900 shares of the company's stock valued at $51,776,000 after acquiring an additional 208,800 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Central Garden & Pet by 21.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company's stock worth $38,110,000 after buying an additional 202,761 shares during the period. Armistice Capital LLC raised its stake in shares of Central Garden & Pet by 28.8% during the first quarter. Armistice Capital LLC now owns 1,025,085 shares of the company's stock valued at $33,551,000 after acquiring an additional 229,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Central Garden & Pet by 5.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company's stock worth $28,795,000 after buying an additional 47,257 shares in the last quarter. Institutional investors own 50.82% of the company's stock.

About Central Garden & Pet

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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