Central Garden & Pet (NASDAQ:CENT) Sees Strong Trading Volume

Shares of Central Garden & Pet (NASDAQ:CENT) saw unusually-high trading volume on Tuesday . Approximately 201,629 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

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

Central Garden & Pet Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. The stock has a market capitalization of $2.83 billion, a P/E ratio of 19.96 and a beta of 0.72. The business has a 50-day moving average price of $41.94 and a 200 day moving average price of $35.25.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The business had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. As a group, sell-side analysts forecast that Central Garden & Pet will post 2.37 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, CAO Howard Machek sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of the transaction, the chief accounting officer now owns 59,406 shares in the company, valued at $2,162,378.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Howard Machek sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total transaction of $182,000.00. Following the transaction, the chief accounting officer now owns 59,406 shares in the company, valued at $2,162,378.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Edward Hanson sold 5,321 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the completion of the sale, the insider now owns 35,460 shares in the company, valued at approximately $1,318,757.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,822 shares of company stock worth $965,026. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Central Garden & Pet in the 3rd quarter worth $98,000. Assenagon Asset Management S.A. purchased a new stake in Central Garden & Pet in the 3rd quarter worth approximately $148,000. Caprock Group LLC bought a new stake in Central Garden & Pet during the 3rd quarter worth approximately $211,000. Louisiana State Employees Retirement System bought a new position in shares of Central Garden & Pet in the fourth quarter worth approximately $241,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Central Garden & Pet by 28.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after purchasing an additional 1,070 shares in the last quarter. 16.13% of the stock is owned by hedge funds and other 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.