Central Garden & Pet (NASDAQ:CENT) Stock Price Down 6.5% - Should You Sell?

Shares of Central Garden & Pet (NASDAQ:CENT - Get Free Report) dropped 6.5% during trading on Friday . The company traded as low as $34.45 and last traded at $33.98. Approximately 190,855 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 119,247 shares. The stock had previously closed at $36.34.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CENT shares. Canaccord Genuity Group reduced their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Argus downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $45.00.

Central Garden & Pet Trading Down 7.3 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. The firm has a fifty day moving average price of $36.75 and a 200 day moving average price of $37.13. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 18.50 and a beta of 0.73.

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

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Insider Buying and Selling

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares of the company's stock, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

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

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.