Central Garden & Pet (NASDAQ:CENTA) Trading 5.1% Higher – Here’s Why

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

Analysts Set New Price Targets

CENTA has been the topic of several recent analyst reports. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased 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 analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Stock Down 4.5 %

The business has a 50-day moving average price of $32.00 and a 200 day moving average price of $32.75. 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 stock has a market capitalization of $2.30 billion, a P/E ratio of 21.67 and a beta of 0.78.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors have recently modified their holdings of CENTA. Dimensional Fund Advisors LP grew its holdings in shares of Central Garden & Pet by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after purchasing an additional 29,780 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Central Garden & Pet by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,942,422 shares of the company’s stock valued at $92,392,000 after acquiring an additional 36,251 shares during the period. State Street Corp raised its position in shares of Central Garden & Pet by 3.3% in the 3rd quarter. State Street Corp now owns 2,175,277 shares of the company’s stock worth $68,304,000 after acquiring an additional 68,689 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Central Garden & Pet by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,100,751 shares of the company’s stock worth $65,964,000 after purchasing an additional 38,077 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Central Garden & Pet by 43.0% during the second quarter. American Century Companies Inc. now owns 941,509 shares of the company’s stock valued at $31,098,000 after purchasing an additional 283,045 shares in the last quarter. 50.82% of the stock is owned by institutional investors.

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.