Central Garden & Pet (NASDAQ:CENT) Shares Cross Above 200-Day Moving Average of $33.75

Central Garden & Pet (NASDAQ:CENT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.75 and traded as high as $44.10. Central Garden & Pet shares last traded at $42.83, with a volume of 50,839 shares trading hands.

Analyst Upgrades and Downgrades

CENT has been the subject of several recent research reports. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Truist Financial boosted their price target 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. Canaccord Genuity Group initiated 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 objective on the stock. Finally, TheStreet upgraded shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a research report on Friday, March 1st.

Central Garden & Pet Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 21.25 and a beta of 0.71. The business has a fifty day moving average price of $41.28 and a 200 day moving average price of $33.75.

Central Garden & Pet (NASDAQ:CENT) last issued its 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. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The firm had revenue of $634.53 million during the quarter, compared to the consensus estimate of $620.11 million. As a group, research analysts anticipate that Central Garden & Pet will post 2.29 earnings per share for the current year.

Insider Transactions at Central Garden & Pet

In related news, CFO Nicholas Lahanas sold 13,101 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.64, for a total transaction of $493,121.64. Following the sale, the chief financial officer now owns 115,796 shares of the company’s stock, valued at approximately $4,358,561.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Nicholas Lahanas sold 13,101 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 115,796 shares of the company’s stock, valued at $4,358,561.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,162,378.40. The disclosure for this sale can be found here. Over the last ninety days, insiders 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

A number of hedge funds have recently modified their holdings of CENT. Captrust Financial Advisors increased its stake in shares of Central Garden & Pet by 41.4% in the first quarter. Captrust Financial Advisors now owns 959 shares of the company’s stock valued at $42,000 after buying an additional 281 shares during the period. Advisor Group Holdings Inc. increased its position in Central Garden & Pet by 43.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,176 shares of the company’s stock valued at $96,000 after purchasing an additional 660 shares during the period. Banque Cantonale Vaudoise bought a new position in Central Garden & Pet during the 3rd quarter worth approximately $98,000. UBS Group AG raised its holdings in Central Garden & Pet by 180.9% during the 4th quarter. UBS Group AG now owns 3,242 shares of the company’s stock worth $121,000 after purchasing an additional 2,088 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Central Garden & Pet in the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

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.