Central Garden & Pet (NASDAQ:CENTA) Trading Up 5.1% – Here’s Why

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped 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 research report on Friday, October 11th. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Stock Up 7.4 %

The stock’s fifty day moving average is $31.71 and its two-hundred day moving average is $32.74. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.44 billion, a P/E ratio of 22.78 and a beta of 0.78.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in CENTA. Quarry LP raised its position 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 purchasing an additional 629 shares during the period. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet in the second quarter worth about $26,000. Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the 2nd quarter valued at about $37,000. CWM LLC lifted its stake in shares of Central Garden & Pet by 3,558.1% in the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Central Garden & Pet during the 2nd quarter worth approximately $61,000. 50.82% of the stock is currently owned by institutional investors.

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.