Central Garden & Pet (NASDAQ:CENT) Sets New 1-Year High – Time to Buy?

Central Garden & Pet Company (NASDAQ:CENT)’s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $48.02 and last traded at $47.7590, with a volume of 3,617 shares changing hands. The stock had previously closed at $46.35.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CENT. Wall Street Zen upgraded shares of Central Garden & Pet to a “hold” rating in a research report on Saturday, October 17th. Zacks Research downgraded shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Central Garden & Pet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of “Moderate Buy” and an average price target of $54.00.

Central Garden & Pet Stock Performance

The stock has a 50 day moving average price of $41.95 and a two-hundred day moving average price of $40.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.79 and a quick ratio of 2.67. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 17.89 and a beta of 0.62.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. The business had revenue of $883.72 million for the quarter, compared to the consensus estimate of $882.96 million. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS. On average, analysts predict that Central Garden & Pet Company will post 2.98 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In related news, insider John Walker, III sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $38.50, for a total value of $192,500.00. Following the transaction, the insider owned 64,679 shares in the company, valued at $2,490,141.50. This trade represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently bought and sold shares of the business. Ethic Inc. boosted its holdings in Central Garden & Pet by 17.2% during the third quarter. Ethic Inc. now owns 12,842 shares of the company’s stock worth $499,000 after buying an additional 1,885 shares during the last quarter. State of Wyoming increased its position in shares of Central Garden & Pet by 45.5% during the third quarter. State of Wyoming now owns 8,058 shares of the company’s stock worth $313,000 after acquiring an additional 2,521 shares in the last quarter. Signaturefd LLC raised its stake in shares of Central Garden & Pet by 598.8% in the 3rd quarter. Signaturefd LLC now owns 1,174 shares of the company’s stock valued at $46,000 after purchasing an additional 1,006 shares during the period. Sterling Capital Management LLC raised its position in Central Garden & Pet by 28.8% in the 3rd quarter. Sterling Capital Management LLC now owns 6,554 shares of the company’s stock valued at $255,000 after buying an additional 1,466 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Central Garden & Pet by 7.0% in the third quarter. Inspire Investing LLC now owns 16,359 shares of the company’s stock valued at $636,000 after purchasing an additional 1,075 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors and hedge funds.

About Central Garden & Pet

Central Garden & Pet Company (NASDAQ:CENT) develops, manufactures, and distributes products for the pet and lawn-and-garden markets. Its pet business serves owners of dogs, cats, birds, fish, small animals, and reptiles with products such as toys, chews, treats, habitats, aquatics equipment, bedding, and animal-care supplies.

The company’s lawn-and-garden operations offer grass seed, fertilizer, weed and pest control products, soil amendments, and other gardening supplies. Its portfolio includes brands such as Pennington, Aqueon, Kaytee, Nylabone, Four Paws, API, and Wild Bird.

Founded in 1955, Central Garden & Pet sells its products primarily through mass merchants, home-improvement and garden retailers, pet specialty stores, independent retailers, distributors, and e-commerce channels.