Central Garden & Pet (NASDAQ:CENTA) Trading 5.1% Higher - Time to Buy?

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report)'s stock price shot up 5.1% during trading on Friday . The company traded as high as $34.26 and last traded at $33.97. 50,607 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 333,932 shares. The stock had previously closed at $32.32.

Wall Street Analysts Forecast Growth

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

Central Garden & Pet Stock Up 2.2%

The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.39 billion, a P/E ratio of 19.53 and a beta of 0.66. The company's 50 day moving average price is $31.53 and its two-hundred day moving average price is $31.59.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. As a group, research analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, Chairman William E. Brown sold 7,800 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the completion of the sale, the chairman owned 377,383 shares in the company, valued at $12,091,351.32. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 107,800 shares of company stock valued at $3,490,112 over the last ninety days. 20.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after purchasing an additional 517 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Central Garden & Pet by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock valued at $180,000 after purchasing an additional 325 shares during the period. Bank of Montreal Can grew its holdings in Central Garden & Pet by 12.6% in the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock valued at $216,000 after purchasing an additional 734 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Central Garden & Pet during the 1st quarter worth approximately $224,000. Finally, Magnetar Financial LLC purchased a new position in shares of Central Garden & Pet during the 1st quarter valued at approximately $236,000. Hedge funds and other 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.