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

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

Analysts Set New Price Targets

CENTA has been the topic of several recent analyst reports. Truist Financial reiterated a "hold" rating and issued a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lowered their target price 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.

Central Garden & Pet Stock Performance

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 company's fifty day moving average is $31.53 and its 200 day moving average is $31.61. The company has a market cap of $2.34 billion, a P/E ratio of 19.12 and a beta of 0.66.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced 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. The firm had revenue of $833.54 million for the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. As a group, equities analysts predict 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, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $32.04, for a total transaction of $249,912.00. Following the sale, the chairman owned 377,383 shares of the company's stock, valued at approximately $12,091,351.32. The trade was a 2.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 107,800 shares of company stock worth $3,490,112. Insiders own 20.28% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CENTA. Vanguard Group Inc. raised its holdings in 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 buying an additional 306,449 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Central Garden & Pet by 15.2% in the first quarter. American Century Companies Inc. now owns 1,581,900 shares of the company's stock worth $51,776,000 after buying an additional 208,800 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Central Garden & Pet by 21.1% in the first 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 in the last quarter. Armistice Capital LLC lifted its stake in shares of Central Garden & Pet by 28.8% in the first quarter. Armistice Capital LLC now owns 1,025,085 shares of the company's stock worth $33,551,000 after buying an additional 229,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Central Garden & Pet by 5.7% in the first 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. 50.82% of the stock is owned by hedge funds and other institutional investors.

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.