Central Garden & Pet (NASDAQ:CENTA) Shares Cross Below 200-Day Moving Average - What's Next?

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.39 and traded as low as $30.48. Central Garden & Pet shares last traded at $31.21, with a volume of 178,492 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on CENTA shares. StockNews.com cut Central Garden & Pet from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on Central Garden & Pet from $32.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, two have assigned 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 a consensus price target of $41.00.

Central Garden & Pet Stock Down 0.7 %

The firm has a market capitalization of $2.03 billion, a PE ratio of 19.16 and a beta of 0.76. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. The business's 50 day simple moving average is $32.88 and its 200 day simple moving average is $32.39.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.02. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. On average, equities research analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors have recently made changes to their positions in CENTA. Empowered Funds LLC bought a new stake in shares of Central Garden & Pet in the 3rd quarter valued at about $7,621,000. Cubist Systematic Strategies LLC purchased a new stake in Central Garden & Pet during the second quarter valued at approximately $5,508,000. Barclays PLC grew its holdings in Central Garden & Pet by 161.7% in the third quarter. Barclays PLC now owns 122,530 shares of the company's stock worth $3,849,000 after purchasing an additional 75,718 shares during the last quarter. State Street Corp grew its holdings in Central Garden & Pet by 3.3% in the third quarter. State Street Corp now owns 2,175,277 shares of the company's stock worth $68,304,000 after purchasing an additional 68,689 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Central Garden & Pet by 34.3% during the second quarter. Millennium Management LLC now owns 255,160 shares of the company's stock worth $8,428,000 after purchasing an additional 65,213 shares in the last quarter. Hedge funds and other institutional investors own 50.82% 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.