Central Garden & Pet (NASDAQ:CENTA) Shares Gap Up After Strong Earnings

Shares of Central Garden & Pet (NASDAQ:CENTA) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $31.69, but opened at $33.92. Central Garden & Pet shares last traded at $33.94, with a volume of 30,880 shares.

The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%.

Wall Street Analyst Weigh In

CENTA has been the topic of a number of analyst reports. Argus cut Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Central Garden & Pet has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Trading of Central Garden & Pet

Several large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Central Garden & Pet by 668.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock worth $31,000 after acquiring an additional 809 shares in the last quarter. CWM LLC grew its position in shares of Central Garden & Pet by 72.6% during the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock valued at $61,000 after buying an additional 823 shares during the last quarter. KBC Group NV raised its stake in Central Garden & Pet by 43.8% during the third quarter. KBC Group NV now owns 2,402 shares of the company’s stock worth $75,000 after acquiring an additional 732 shares during the period. Venturi Wealth Management LLC bought a new position in Central Garden & Pet in the fourth quarter worth about $102,000. Finally, Quantbot Technologies LP boosted its stake in Central Garden & Pet by 253.7% in the third quarter. Quantbot Technologies LP now owns 3,891 shares of the company’s stock valued at $122,000 after acquiring an additional 2,791 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Stock Performance

The company has a 50 day moving average price of $32.63 and a 200-day moving average price of $32.27. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.24 billion, a P/E ratio of 21.10 and a beta of 0.76.

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.