Central Garden & Pet (NASDAQ:CENTA) Sets New 1-Year Low - What's Next?

Key Points

• Central Garden & Pet's stock reached a new 52-week low of $26.20 during trading, closing at $26.27 with significant volume.
• Analysts have mixed ratings on the stock, with Canaccord Genuity raising its target price to $50, while Zacks downgraded it to a "hold" rating.
• Central Garden & Pet reported quarterly earnings of $1.56 EPS, surpassing estimates, but revenue fell short of predictions at $960.91 million.

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $26.20 and last traded at $26.27, with a volume of 350625 shares traded. The stock had previously closed at $26.76.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CENTA. Canaccord Genuity Group upped their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Central Garden & Pet in a research note on Wednesday, October 8th. Wall Street Zen raised Central Garden & Pet from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. Finally, Zacks Research downgraded Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.67.

Central Garden & Pet Price Performance

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 11.94 and a beta of 0.63. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $31.55 and a 200 day moving average of $31.97.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.34 by $0.22. The business had revenue of $960.91 million for the quarter, compared to the consensus estimate of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. Equities research analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the stock in a transaction dated Monday, August 25th. The stock was 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 in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Walker III sold 3,500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 20.28% of the company's stock.

Institutional Trading of Central Garden & Pet

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in Central Garden & Pet by 4.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,652 shares of the company's stock valued at $447,000 after buying an additional 604 shares during the period. CWA Asset Management Group LLC acquired a new stake in Central Garden & Pet during the first quarter worth approximately $573,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Central Garden & Pet during the first quarter worth approximately $224,000. Charles Schwab Investment Management Inc. lifted its position in Central Garden & Pet by 5.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company's stock worth $28,795,000 after acquiring an additional 47,257 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Central Garden & Pet during the first quarter worth approximately $1,386,000. Institutional investors own 50.82% 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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