Central Garden & Pet (NASDAQ:CENTA) Stock Price Down 5.2% – Should You Sell?

Central Garden & Pet (NASDAQ:CENTA)’s share price was down 5.2% on Friday . The company traded as low as $30.70 and last traded at $30.74. Approximately 316,399 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 275,854 shares. The stock had previously closed at $32.42.

Analyst Ratings Changes

Several brokerages recently issued reports on CENTA. JPMorgan Chase & Co. decreased their price target on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Argus lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Central Garden & Pet Price Performance

The stock has a market cap of $2.00 billion, a P/E ratio of 16.78 and a beta of 0.70. The business has a 50 day simple moving average of $31.82 and a 200-day simple moving average of $31.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. On average, sell-side analysts forecast that Central Garden & Pet will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider John D. Walker III sold 10,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the transaction, the insider now directly owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Central Garden & Pet by 33.8% during the third quarter. FMR LLC now owns 76,388 shares of the company’s stock valued at $2,399,000 after buying an additional 19,306 shares during the period. Barclays PLC lifted its stake in Central Garden & Pet by 161.7% in the 3rd quarter. Barclays PLC now owns 122,530 shares of the company’s stock worth $3,849,000 after purchasing an additional 75,718 shares in the last quarter. Denali Advisors LLC bought a new position in Central Garden & Pet in the 4th quarter valued at $1,573,000. Proficio Capital Partners LLC purchased a new position in shares of Central Garden & Pet during the 4th quarter valued at $1,637,000. Finally, Congress Asset Management Co. increased its holdings in shares of Central Garden & Pet by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 195,847 shares of the company’s stock worth $6,473,000 after purchasing an additional 17,033 shares during the period. Hedge funds and other institutional investors own 50.82% of the company’s stock.

About Central Garden & Pet

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.