Central Garden & Pet (NASDAQ:CENTA) Trading Up 5.1% – Still a Buy?

Central Garden & Pet (NASDAQ:CENTA)’s stock price shot up 5.1% on Tuesday . The stock traded as high as $36.50 and last traded at $36.42. 95,806 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 279,608 shares. The stock had previously closed at $34.64.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Trading Down 4.5 %

The stock’s fifty day simple moving average is $32.00 and its two-hundred day simple moving average is $32.75. The firm has a market cap of $2.30 billion, a PE ratio of 21.67 and a beta of 0.78. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors have recently modified their holdings of CENTA. Quarry LP increased its holdings in Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after buying an additional 629 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new position in Central Garden & Pet during the second quarter valued at approximately $37,000. CWM LLC boosted its holdings in Central Garden & Pet by 3,558.1% in the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Central Garden & Pet during the 2nd quarter valued at $61,000. 50.82% of the stock is owned by hedge funds and other 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.