Central Garden & Pet (NASDAQ:CENT) Sees Unusually-High Trading Volume

Central Garden & Pet (NASDAQ:CENT - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 201,629 shares were traded during trading, an increase of 75% from the previous session's volume of 114,949 shares.The stock last traded at $42.00 and had previously closed at $40.23.

Wall Street Analysts Forecast Growth

CENT has been the subject of several recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a "buy" rating and a $52.00 price objective for the company. TheStreet upgraded Central Garden & Pet from a "c+" rating to a "b-" rating in a research report on Friday, March 1st. Truist Financial lifted their target price on Central Garden & Pet from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group initiated coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They set a "buy" rating and a $52.00 target price for the company.

Central Garden & Pet Stock Performance

The firm has a market capitalization of $2.83 billion, a P/E ratio of 20.87 and a beta of 0.72. The firm has a 50-day moving average price of $41.94 and a two-hundred day moving average price of $35.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million during the quarter, compared to the consensus estimate of $620.11 million. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. On average, analysts forecast that Central Garden & Pet will post 2.37 EPS for the current fiscal year.

Insider Activity at Central Garden & Pet

In related news, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the completion of the sale, the chief financial officer now directly owns 115,796 shares in the company, valued at $4,358,561.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the completion of the sale, the chief financial officer now directly owns 115,796 shares in the company, valued at $4,358,561.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Ranelli sold 2,400 shares of Central Garden & Pet stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now owns 41 shares of the company's stock, valued at $1,571.94. The disclosure for this sale can be found here. Insiders sold 25,822 shares of company stock worth $965,026 over the last three months. 9.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in CENT. Banque Cantonale Vaudoise bought a new position in Central Garden & Pet in the third quarter worth about $98,000. Assenagon Asset Management S.A. bought a new position in Central Garden & Pet in the third quarter worth about $148,000. Caprock Group LLC bought a new position in Central Garden & Pet in the third quarter worth about $211,000. SG Americas Securities LLC bought a new position in Central Garden & Pet in the third quarter worth about $232,000. Finally, Louisiana State Employees Retirement System bought a new position in Central Garden & Pet in the fourth quarter worth about $241,000. 16.13% of the stock is currently owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.