Central Garden & Pet (NASDAQ:CENTA) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Central Garden & Pet (NASDAQ:CENTA) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.39 and traded as low as $30.48. Central Garden & Pet shares last traded at $31.21, with a volume of 178,492 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CENTA. Argus downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Central Garden & Pet Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The firm has a market cap of $2.03 billion, a P/E ratio of 19.13 and a beta of 0.76. The firm’s fifty day simple moving average is $32.87 and its 200 day simple moving average is $32.38.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. As a group, analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Central Garden & Pet by 1.2% during the third quarter. Victory Capital Management Inc. now owns 2,942,422 shares of the company’s stock worth $92,392,000 after purchasing an additional 36,251 shares during the last quarter. State Street Corp lifted its holdings in Central Garden & Pet by 3.3% during the 3rd quarter. State Street Corp now owns 2,175,277 shares of the company’s stock valued at $68,304,000 after buying an additional 68,689 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Central Garden & Pet by 1.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,100,751 shares of the company’s stock valued at $65,964,000 after buying an additional 38,077 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Central Garden & Pet by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 773,023 shares of the company’s stock worth $24,273,000 after acquiring an additional 41,241 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Central Garden & Pet by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 691,092 shares of the company’s stock worth $21,700,000 after acquiring an additional 59,368 shares during the period. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

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.