Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – What’s Next?

Central Garden & Pet (NASDAQ:CENTA) gapped down prior to trading on Tuesday . The stock had previously closed at $31.97, but opened at $31.27. Central Garden & Pet shares last traded at $31.00, with a volume of 27,267 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CENTA shares. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Argus downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Central Garden & Pet Price Performance

The company has a market cap of $2.02 billion, a PE ratio of 19.00 and a beta of 0.76. The business has a 50 day moving average of $32.95 and a 200 day moving average of $32.60. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Institutional Trading of Central Garden & Pet

Several large investors have recently bought and sold shares of the company. Quarry LP grew its position in shares of Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after buying an additional 629 shares during the period. Federated Hermes Inc. bought a new position in shares of Central Garden & Pet during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of Central Garden & Pet during the second quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Central Garden & Pet in the 2nd quarter worth approximately $61,000. Finally, CWM LLC boosted its position in shares of Central Garden & Pet by 72.6% in the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after purchasing an additional 823 shares in the last quarter. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

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.