Central Garden & Pet (NASDAQ:CENT) Stock Price Up 5.3% - Still a Buy?

Central Garden & Pet (NASDAQ:CENT - Get Free Report)'s share price shot up 5.3% on Tuesday . The stock traded as high as $42.92 and last traded at $42.83. 64,217 shares changed hands during trading, a decline of 44% from the average session volume of 115,457 shares. The stock had previously closed at $40.69.

Analyst Ratings Changes

Several research firms have weighed in on CENT. Canaccord Genuity Group dropped their price target on Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Truist Financial dropped their price target on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $46.75.

Central Garden & Pet Stock Up 6.0 %

The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.83 billion, a PE ratio of 26.63 and a beta of 0.81. The business has a 50 day moving average price of $37.23 and a 200 day moving average price of $38.07.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The firm had revenue of $669.49 million for the quarter, compared to the consensus estimate of $707.83 million. The company's revenue was down 10.8% compared to the same quarter last year. Equities research analysts expect that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently bought and sold shares of CENT. Marshall Wace LLP raised its holdings in Central Garden & Pet by 748.5% in the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock worth $3,234,000 after purchasing an additional 74,100 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company's stock worth $34,085,000 after purchasing an additional 51,454 shares during the period. Empowered Funds LLC acquired a new position in Central Garden & Pet in the 3rd quarter worth about $1,681,000. American Century Companies Inc. raised its holdings in Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock worth $6,262,000 after purchasing an additional 32,009 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Central Garden & Pet during the third quarter valued at approximately $797,000. Institutional investors and hedge funds own 16.13% of the company's stock.

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.