Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – Here’s Why

Central Garden & Pet (NASDAQ:CENTA) gapped down before the market opened on Tuesday . The stock had previously closed at $33.22, but opened at $32.15. Central Garden & Pet shares last traded at $34.13, with a volume of 62,258 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CENTA shares. StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Central Garden & Pet has an average rating of “Buy” and an average target price of $41.33.

Central Garden & Pet Stock Up 4.1 %

The business has a 50 day simple moving average of $30.80 and a 200 day simple moving average of $33.27. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The stock has a market cap of $2.33 billion, a PE ratio of 15.31 and a beta of 0.73.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Central Garden & Pet by 30.2% in the 1st quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after purchasing an additional 1,306,309 shares during the period. American International Group Inc. raised its holdings in Central Garden & Pet by 30.0% in the 1st quarter. American International Group Inc. now owns 27,964 shares of the company’s stock valued at $1,032,000 after acquiring an additional 6,455 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Central Garden & Pet by 79.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 76,298 shares of the company’s stock worth $2,815,000 after acquiring an additional 33,770 shares during the period. PEAK6 Investments LLC bought a new stake in shares of Central Garden & Pet in the 1st quarter worth approximately $709,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Central Garden & Pet by 1,038.2% during the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock worth $4,789,000 after purchasing an additional 118,345 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.