Central Garden & Pet (NASDAQ:CENT) Stock Crosses Above 200 Day Moving Average of $35.25

Central Garden & Pet (NASDAQ:CENT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.25 and traded as high as $40.45. Central Garden & Pet shares last traded at $40.23, with a volume of 90,236 shares changing hands.

Wall Street Analysts Forecast Growth

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

Central Garden & Pet Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55. The stock’s fifty day simple moving average is $41.94 and its 200-day simple moving average is $35.25. The company has a market capitalization of $2.70 billion, a P/E ratio of 19.96 and a beta of 0.72.

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, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The firm had revenue of $634.53 million during the quarter, compared to analyst estimates of $620.11 million. On average, equities analysts forecast that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, CFO Nicholas Lahanas sold 13,101 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,358,561.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the transaction, the director now directly owns 41 shares of the company’s stock, valued at $1,571.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet 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 transaction, the chief financial officer now directly owns 115,796 shares in the company, valued at $4,358,561.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,822 shares of company stock valued at $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 and other institutional investors have recently made changes to their positions in the company. Orchard Capital Management LLC boosted its position in shares of Central Garden & Pet by 5.6% during the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock worth $8,474,000 after purchasing an additional 8,914 shares in the last quarter. Watershed Asset Management L.L.C. bought a new position in shares of Central Garden & Pet during the fourth quarter worth $291,000. Louisiana State Employees Retirement System acquired a new stake in shares of Central Garden & Pet during the fourth quarter worth $241,000. Nisa Investment Advisors LLC increased its stake 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 buying an additional 1,070 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Central Garden & Pet by 21.8% in the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock valued at $257,000 after acquiring an additional 919 shares during the period. 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.