Central Garden & Pet (NASDAQ:CENTA) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Central Garden & Pet (NASDAQ:CENTA) shares crossed 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 changing hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CENTA. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Argus cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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 firm has a market cap of $2.05 billion, a PE ratio of 19.29 and a beta of 0.76. The firm has a 50-day moving average price of $32.88 and a two-hundred day moving average price of $32.39.

Central Garden & Pet (NASDAQ:CENTA) last announced 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 net margin of 3.37% and a return on equity of 9.31%. Research analysts forecast that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

Institutional Trading of Central Garden & Pet

Institutional investors have recently made changes to their positions in the company. Quarry LP increased its position in shares of Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after acquiring an additional 629 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Central Garden & Pet in the second quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Central Garden & Pet during the second quarter worth $61,000. CWM LLC boosted its position in shares of Central Garden & Pet by 72.6% during the third quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after buying an additional 823 shares during the period. Finally, KBC Group NV grew its stake in shares of Central Garden & Pet by 43.8% in the third quarter. KBC Group NV now owns 2,402 shares of the company’s stock valued at $75,000 after buying an additional 732 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.