Central Garden & Pet (NASDAQ:CENTA) Share Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Central Garden & Pet shares fell below their 200-day moving average, trading as low as $34.26 versus the $35.60 average, before last changing hands at $34.57.
• Analyst sentiment remains broadly positive but mixed: the stock carries a consensus “Moderate Buy” rating with an average price target of $46.67, while several firms recently downgraded it to Hold.
• The company slightly exceeded quarterly EPS expectations, reporting $1.54 versus the $1.51 consensus, though revenue of $882.36 million was marginally below estimates.

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.60 and traded as low as $34.26. Central Garden & Pet shares last traded at $34.57, with a volume of 714,117 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on CENTA shares. Zacks Research downgraded Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on Central Garden & Pet from $32.00 to $37.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. Wall Street Zen cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised Central Garden & Pet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Central Garden & Pet from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.67.

Central Garden & Pet Stock Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.67 and a current ratio of 3.79. The company has a market capitalization of $2.16 billion, a P/E ratio of 12.90 and a beta of 0.59. The business has a 50 day moving average of $37.43 and a 200-day moving average of $35.60.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.03. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. The firm had revenue of $882.36 million for the quarter, compared to the consensus estimate of $882.96 million. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. On average, sell-side analysts predict that Central Garden & Pet Company will post 2.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Central Garden & Pet news, insider John Walker, III sold 5,000 shares of Central Garden & Pet stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,490,141.50. This trade represents 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 this hyperlink. 20.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its position in Central Garden & Pet by 198.4% in the 4th quarter. IFP Advisors Inc now owns 1,131 shares of the company's stock worth $33,000 after purchasing an additional 752 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Central Garden & Pet during the second quarter valued at about $44,000. Rockefeller Capital Management L.P. boosted its position in Central Garden & Pet by 577.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,654 shares of the company's stock valued at $48,000 after buying an additional 1,410 shares during the period. Versant Capital Management Inc grew its stake in shares of Central Garden & Pet by 96.3% during the second quarter. Versant Capital Management Inc now owns 1,855 shares of the company's stock valued at $72,000 after buying an additional 910 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Central Garden & Pet by 22.6% during the second quarter. GAMMA Investing LLC now owns 3,295 shares of the company's stock valued at $128,000 after buying an additional 608 shares during the last quarter. Institutional investors own 50.82% of the company's stock.

About Central Garden & Pet

Central Garden & Pet Company is a marketer and manufacturer of branded products for the pet and lawn-and-garden markets. The company sells its products through retailers, distributors, e-commerce channels and other outlets, serving consumers, pet owners and gardening customers primarily in the United States.

Its pet portfolio includes products for dogs, cats, birds, fish, reptiles, small animals and other companion animals. Offerings include pet food, treats, toys, chews, bedding, habitats, aquatics products, waste-management products and animal health and wellness items.

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