Central Garden & Pet (NASDAQ:CENT) Sees Strong Trading Volume

Shares of Central Garden & Pet (NASDAQ:CENT) saw strong trading volume on Tuesday . 201,629 shares traded hands during trading, an increase of 75% from the previous session’s volume of 114,949 shares.The stock last traded at $42.00 and had previously closed at $40.23.

Analyst Upgrades and Downgrades

CENT has been the topic of several research analyst reports. Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Canaccord Genuity Group initiated coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price for the company. TheStreet raised shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Finally, Truist Financial raised their price objective on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 9th.

Central Garden & Pet Trading Up 4.6 %

The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 19.96 and a beta of 0.72. The business has a 50-day simple moving average of $41.94 and a two-hundred day simple moving average of $35.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million for the quarter, compared to analysts’ expectations of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. As a group, research analysts forecast that Central Garden & Pet will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Nicholas Lahanas sold 13,101 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.64, for a total transaction of $493,121.64. Following the completion of the sale, the chief financial officer now owns 115,796 shares in the company, valued at approximately $4,358,561.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Central Garden & Pet news, insider John Edward Hanson sold 5,321 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $37.19, for a total value of $197,887.99. Following the completion of the sale, the insider now owns 35,460 shares of the company’s stock, valued at approximately $1,318,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicholas Lahanas sold 13,101 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the sale, the chief financial officer now directly owns 115,796 shares in the company, valued at approximately $4,358,561.44. The disclosure for this sale can be found here. Insiders have sold a total of 25,822 shares of company stock valued at $965,026 over the last 90 days. 9.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Central Garden & Pet in the third quarter worth about $98,000. Assenagon Asset Management S.A. bought a new position in Central Garden & Pet in the third quarter valued at about $148,000. Caprock Group LLC bought a new position in Central Garden & Pet in the 3rd quarter valued at approximately $211,000. SG Americas Securities LLC bought a new stake in Central Garden & Pet during the 3rd quarter worth approximately $232,000. Finally, Louisiana State Employees Retirement System acquired a new position in Central Garden & Pet in the 4th quarter valued at approximately $241,000. 16.13% of the stock is owned by institutional investors.

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.