Central Garden & Pet (NASDAQ:CENT) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Central Garden & Pet shares briefly moved above their 200-day moving average of $40.47, reaching $40.63 before last trading at $40.05.
• Analysts maintain a generally positive outlook, with the stock holding an average “Buy” rating and a consensus price target of $54.00, despite mixed recent rating changes.
• The company slightly exceeded quarterly earnings and revenue expectations, reporting $1.54 in EPS and $883.72 million in revenue, though revenue declined 8.2% year over year.

Shares of Central Garden & Pet Company (NASDAQ:CENT - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $40.47 and traded as high as $40.63. Central Garden & Pet shares last traded at $40.05, with a volume of 227,393 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on CENT shares. Zacks Research downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Weiss Ratings raised Central Garden & Pet from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $54.00.

Central Garden & Pet Stock Down 1.1%

The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 14.94 and a beta of 0.62. The business has a fifty day simple moving average of $43.02 and a 200 day simple moving average of $40.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.79 and a quick ratio of 2.67.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Central Garden & Pet had a return on equity of 11.13% and a net margin of 5.39%.The firm had revenue of $883.72 million during the quarter, compared to the consensus estimate of $882.96 million. During the same period in the prior year, the company earned $1.56 EPS. The firm's revenue was down 8.2% compared to the same quarter last year. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. As a group, equities analysts forecast that Central Garden & Pet Company will post 2.98 EPS for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In related news, insider John Walker, III sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total transaction of $192,500.00. Following the transaction, the insider directly owned 64,679 shares in the company, valued at approximately $2,490,141.50. The trade was a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CENT. Renaissance Technologies LLC raised its stake in Central Garden & Pet by 59.5% during the first quarter. Renaissance Technologies LLC now owns 181,787 shares of the company's stock worth $6,684,000 after purchasing an additional 67,800 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at approximately $2,156,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Central Garden & Pet during the 2nd quarter worth approximately $1,613,000. Stenger Family Office LLC purchased a new stake in shares of Central Garden & Pet during the 1st quarter valued at approximately $877,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Central Garden & Pet during the 2nd quarter valued at approximately $650,000. Institutional investors and hedge funds own 16.13% of the company's stock.

Central Garden & Pet Company Profile

Central Garden & Pet Company is a consumer products company that develops, manufactures and distributes products for the pet and garden markets. The company serves pet owners, gardeners and lawn-care customers through a portfolio of branded and private-label products sold through mass merchants, specialty retailers, garden centers, independent stores and e-commerce channels.

Its pet-related offerings include food, treats, toys, habitats, bedding, grooming products, animal health products and supplies for dogs, cats, birds, small animals, reptiles and aquatic pets.

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