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

Central Garden & Pet (NASDAQ:CENT) shares 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 traded.

Wall Street Analyst Weigh In

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

Central Garden & Pet Stock Down 0.3 %

The company has a market capitalization of $2.82 billion, a PE ratio of 20.80 and a beta of 0.72. The company’s 50 day moving average is $41.92 and its two-hundred day moving average is $35.40. The company has a quick ratio of 1.55, a current ratio of 3.47 and a debt-to-equity ratio of 0.82.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.15. The company had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. On average, analysts anticipate that Central Garden & Pet will post 2.37 earnings per share for the current year.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of Central Garden & Pet stock in a transaction 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 completion of the transaction, the director now directly owns 41 shares of the company’s stock, valued at approximately $1,571.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of Central Garden & Pet stock in a transaction 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 completion of the transaction, the director now directly owns 41 shares of the company’s stock, valued at approximately $1,571.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Machek sold 5,000 shares of Central Garden & Pet stock in a transaction on Wednesday, February 14th. The stock was 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 directly owns 59,406 shares of the company’s stock, valued at $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 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 large investors have recently made changes to their positions in CENT. Banque Cantonale Vaudoise purchased a new position in shares of Central Garden & Pet during the 3rd quarter worth about $98,000. Assenagon Asset Management S.A. purchased a new position in shares of Central Garden & Pet during the 3rd quarter worth about $148,000. Caprock Group LLC purchased a new position in shares of Central Garden & Pet during the 3rd quarter worth about $211,000. SG Americas Securities LLC purchased a new position in shares of Central Garden & Pet during the 3rd quarter worth about $232,000. Finally, Louisiana State Employees Retirement System bought a new stake in Central Garden & Pet during the 4th quarter valued at about $241,000. 16.13% 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.