Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – Should You Sell?

Central Garden & Pet (NASDAQ:CENTA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $33.22, but opened at $32.15. Central Garden & Pet shares last traded at $34.13, with a volume of 62,258 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. 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. StockNews.com lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $41.33.

Central Garden & Pet Trading Up 4.1 %

The business has a 50 day simple moving average of $30.80 and a 200 day simple moving average of $33.27. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 15.31 and a beta of 0.73.

Insider Activity

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The trade was a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 20.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors have recently made changes to their positions in CENTA. Lazard Asset Management LLC grew its holdings in shares of Central Garden & Pet by 1,038.2% in the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock valued at $4,789,000 after buying an additional 118,345 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Central Garden & Pet by 30.2% during the 1st quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after purchasing an additional 1,306,309 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Central Garden & Pet by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after buying an additional 29,780 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Central Garden & Pet by 31.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 76,262 shares of the company’s stock valued at $2,817,000 after buying an additional 18,047 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Central Garden & Pet by 215.8% in the second quarter. Hsbc Holdings PLC now owns 24,539 shares of the company’s stock valued at $803,000 after buying an additional 16,768 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

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.