Central Garden & Pet (NASDAQ:CENTA) Shares Up 5.1% - Should You Buy?

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) shares traded up 5.1% during trading on Tuesday . The company traded as high as $36.50 and last traded at $36.42. 95,806 shares changed hands during trading, a decline of 66% from the average session volume of 279,608 shares. The stock had previously closed at $34.64.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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 $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Central Garden & Pet presently has an average rating of "Buy" and an average price target of $41.33.

Central Garden & Pet Stock Performance

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 fifty day moving average of $31.71 and a 200-day moving average of $32.74. The stock has a market cap of $2.41 billion, a PE ratio of 22.67 and a beta of 0.78.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Central Garden & Pet by 3,558.1% in the 2nd quarter. CWM LLC now owns 1,134 shares of the company's stock valued at $37,000 after purchasing an additional 1,103 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Central Garden & Pet by 16.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Central Garden & Pet by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the company's stock valued at $902,000 after purchasing an additional 600 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Central Garden & Pet by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 482,252 shares of the company's stock valued at $15,929,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Central Garden & Pet during the 2nd quarter worth approximately $85,000. 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.