Central Garden & Pet (NASDAQ:CENT) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Central Garden & Pet (NASDAQ:CENT - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 204,164 shares changed hands during mid-day trading, an increase of 114% from the previous session's volume of 95,308 shares.The stock last traded at $35.69 and had previously closed at $37.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CENT shares. Argus downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $46.75.

Central Garden & Pet Trading Up 2.6 %

The stock's 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $37.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The firm has a market capitalization of $2.31 billion, a P/E ratio of 19.39 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. Equities research analysts expect that Central Garden & Pet will post 2.38 EPS for the current year.

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Insider Transactions at Central Garden & Pet

In related news, insider John D. Walker III sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the transaction, the insider now directly owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.19% of the company's stock.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in shares of Central Garden & Pet by 693.6% during the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company's stock worth $48,000 after acquiring an additional 1,089 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Central Garden & Pet in the 4th quarter worth $58,000. Glenmede Trust Co. NA lifted its stake in Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company's stock worth $77,000 after purchasing an additional 395 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Central Garden & Pet by 201.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $148,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Amundi grew its position in shares of Central Garden & Pet by 193.8% during the fourth quarter. Amundi now owns 4,201 shares of the company's stock valued at $151,000 after purchasing an additional 2,771 shares in the last quarter. 16.13% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.