Central Garden & Pet (NASDAQ:CENT) Sees Strong Trading Volume - Should You Buy?

Central Garden & Pet (NASDAQ:CENT - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 356,210 shares changed hands during trading, an increase of 171% from the previous session's volume of 131,351 shares.The stock last traded at $35.78 and had previously closed at $33.67.

Analyst Upgrades and Downgrades

Separately, Argus cut Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $45.00.

Central Garden & Pet Stock Up 0.2 %

The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average price of $36.69 and a two-hundred day moving average price of $37.06. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 19.75 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. As a group, sell-side analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current year.

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Insider Buying and Selling at Central Garden & Pet

In related news, insider John D. Walker III sold 10,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the sale, the insider now directly owns 67,111 shares of the company's stock, valued at $2,205,267.46. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Central Garden & Pet by 9.2% during the 4th quarter. ProShare Advisors LLC now owns 36,490 shares of the company's stock valued at $1,416,000 after acquiring an additional 3,078 shares in the last quarter. Quantinno Capital Management LP bought a new stake in Central Garden & Pet during the fourth quarter valued at $240,000. Millennium Management LLC raised its holdings in shares of Central Garden & Pet by 14.5% during the fourth quarter. Millennium Management LLC now owns 186,167 shares of the company's stock worth $7,223,000 after purchasing an additional 23,622 shares during the period. Deutsche Bank AG lifted its position in shares of Central Garden & Pet by 10.0% in the 4th quarter. Deutsche Bank AG now owns 14,742 shares of the company's stock worth $572,000 after buying an additional 1,340 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Central Garden & Pet by 3.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 76,129 shares of the company's stock worth $2,954,000 after buying an additional 2,286 shares during the last quarter. Institutional investors and hedge funds own 16.13% of the company's stock.

Central Garden & Pet Company Profile

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.