Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down - Time to Sell?

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $31.97, but opened at $31.27. Central Garden & Pet shares last traded at $31.00, with a volume of 27,267 shares changing hands.

Wall Street Analysts Forecast Growth

CENTA has been the topic of several recent research reports. Argus lowered shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped 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. Finally, StockNews.com downgraded shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Central Garden & Pet currently has an average rating of "Moderate Buy" and a consensus price target of $41.33.

Central Garden & Pet Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 18.82 and a beta of 0.76. The business has a 50 day moving average of $32.97 and a 200 day moving average of $32.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CENTA. Arizona State Retirement System raised its stake in Central Garden & Pet by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 15,269 shares of the company's stock valued at $504,000 after acquiring an additional 377 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Central Garden & Pet during the 2nd quarter worth $93,000. LSV Asset Management boosted its position in shares of Central Garden & Pet by 85.8% during the 2nd 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 valued at $37,000. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Central Garden & Pet by 7.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 50,729 shares of the company's stock worth $1,676,000 after buying an additional 3,470 shares in the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

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.