Central Garden & Pet (NASDAQ:CENT) Stock Price Passes Above 200 Day Moving Average of $35.73

Central Garden & Pet (NASDAQ:CENT) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $35.73 and traded as high as $40.98. Central Garden & Pet shares last traded at $40.95, with a volume of 54,643 shares changing hands.

Analysts Set New Price Targets

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

Central Garden & Pet Price Performance

The firm has a market capitalization of $2.75 billion, a P/E ratio of 20.31 and a beta of 0.72. The business’s fifty day moving average is $41.79 and its 200 day moving average is $35.73. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

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

Insiders Place Their Bets

In related news, insider John Edward Hanson sold 5,321 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the completion of the sale, the insider now directly owns 35,460 shares in the company, valued at $1,318,757.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Central Garden & Pet news, insider John Edward Hanson sold 5,321 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the transaction, the insider now owns 35,460 shares in the company, valued at $1,318,757.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total transaction of $182,000.00. Following the completion of the transaction, the chief accounting officer now owns 59,406 shares in the company, valued at $2,162,378.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,822 shares of company stock worth $965,026. Corporate insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Central Garden & Pet by 6.6% during the 4th quarter. SG Americas Securities LLC now owns 5,613 shares of the company’s stock worth $281,000 after buying an additional 346 shares during the period. Values First Advisors Inc. grew its position in Central Garden & Pet by 7.3% during the 4th quarter. Values First Advisors Inc. now owns 9,941 shares of the company’s stock worth $498,000 after acquiring an additional 673 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Central Garden & Pet by 21.8% during the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock valued at $257,000 after purchasing an additional 919 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Central Garden & Pet by 28.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock valued at $243,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Central Garden & Pet in the third quarter worth $98,000. 16.13% of the stock is currently 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.