Central Garden & Pet (NASDAQ:CENTA) Reaches New 1-Year Low – Here’s Why

Shares of Central Garden & Pet Company (NASDAQ:CENTA) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $26.20 and last traded at $26.27, with a volume of 350625 shares traded. The stock had previously closed at $26.76.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CENTA. Weiss Ratings reissued a “hold (c+)” rating on shares of Central Garden & Pet in a research note on Wednesday, October 8th. Zacks Research lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Wall Street Zen raised shares of Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 20th. Finally, Canaccord Genuity Group increased their target price on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Central Garden & Pet currently has an average rating of “Hold” and an average price target of $38.67.

Central Garden & Pet Price Performance

The stock has a market capitalization of $1.68 billion, a PE ratio of 12.15 and a beta of 0.63. The stock’s 50 day moving average is $31.19 and its two-hundred day moving average is $31.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. The firm had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. On average, equities analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.58, for a total value of $100,216.08. Following the completion of the sale, the director owned 1,427 shares in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the sale, the insider owned 67,328 shares of the company’s stock, valued at approximately $2,194,219.52. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Central Garden & Pet by 444.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,001 shares of the company’s stock worth $31,000 after buying an additional 817 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Central Garden & Pet by 152.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,215 shares of the company’s stock worth $38,000 after buying an additional 733 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $49,000 after buying an additional 517 shares during the last quarter. EMC Capital Management acquired a new stake in shares of Central Garden & Pet during the 2nd quarter worth approximately $87,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Central Garden & Pet by 239.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the company’s stock worth $195,000 after purchasing an additional 4,388 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

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.