Central Garden & Pet (NASDAQ:CENTA) Downgraded by Argus to "Hold"

Argus cut shares of Central Garden & Pet (NASDAQ:CENTA - Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.

A number of other equities research analysts have also commented on CENTA. JPMorgan Chase & Co. reduced their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. StockNews.com lowered shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.33.

Central Garden & Pet Trading Down 4.8 %

Shares of CENTA traded down $1.52 during mid-day trading on Tuesday, reaching $30.45. 463,038 shares of the company were exchanged, compared to its average volume of 243,285. The business has a 50 day simple moving average of $32.97 and a two-hundred day simple moving average of $32.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The stock has a market capitalization of $2.00 billion, a PE ratio of 18.82 and a beta of 0.76. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03.

Hedge Funds Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently made changes to their positions in CENTA. Arizona State Retirement System increased its stake in Central Garden & Pet by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 15,269 shares of the company's stock valued at $504,000 after purchasing an additional 377 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Central Garden & Pet during the second quarter worth about $93,000. LSV Asset Management increased its position in shares of Central Garden & Pet by 85.8% during the second quarter. LSV Asset Management now owns 439,066 shares of the company's stock worth $14,502,000 after acquiring an additional 202,761 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Central Garden & Pet in the 2nd quarter worth about $37,000. Finally, Texas Permanent School Fund Corp lifted its position in Central Garden & Pet by 7.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 50,729 shares of the company's stock valued at $1,676,000 after acquiring an additional 3,470 shares in the last quarter. Institutional investors own 50.82% of the company's stock.

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.