Central Garden & Pet (NASDAQ:CENT) Share Price Passes Above Two Hundred Day Moving Average of $34.68

Central Garden & Pet (NASDAQ:CENT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $34.68 and traded as high as $40.08. Central Garden & Pet shares last traded at $39.74, with a volume of 62,257 shares.

Analysts Set New Price Targets

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

Central Garden & Pet Price Performance

The stock has a 50 day moving average price of $41.93 and a two-hundred day moving average price of $34.68. 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 capitalization of $2.67 billion, a PE ratio of 19.67 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 for the quarter, topping analysts’ consensus estimates 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 company had revenue of $634.53 million during the quarter, compared to the consensus estimate of $620.11 million. Equities analysts forecast that Central Garden & Pet will post 2.37 earnings per share for the current year.

Insider Activity at Central Garden & Pet

In related news, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now directly owns 59,406 shares of the company’s stock, valued at approximately $2,162,378.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Nicholas Lahanas sold 13,101 shares of the firm’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 transaction, the chief financial officer now directly owns 115,796 shares of the company’s stock, valued at approximately $4,358,561.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $182,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 59,406 shares in the company, valued at $2,162,378.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,822 shares of company stock valued at $965,026. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CENT. Advisor Group Holdings Inc. increased its position in Central Garden & Pet by 43.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,176 shares of the company’s stock worth $96,000 after buying an additional 660 shares during the period. Swiss National Bank increased its position in Central Garden & Pet by 7.1% in the 1st quarter. Swiss National Bank now owns 22,750 shares of the company’s stock worth $1,000,000 after buying an additional 1,500 shares during the period. Bank of New York Mellon Corp increased its position in Central Garden & Pet by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 110,564 shares of the company’s stock worth $4,862,000 after buying an additional 1,758 shares during the period. Citigroup Inc. increased its position in Central Garden & Pet by 9.0% in the 1st quarter. Citigroup Inc. now owns 14,464 shares of the company’s stock worth $636,000 after buying an additional 1,189 shares during the period. Finally, MetLife Investment Management LLC increased its position in Central Garden & Pet by 6.4% in the 1st quarter. MetLife Investment Management LLC now owns 4,731 shares of the company’s stock worth $208,000 after buying an additional 285 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.