Central Garden & Pet (NASDAQ:CENTA) Shares Gap Down – What’s Next?

Central Garden & Pet (NASDAQ:CENTA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $31.97, but opened at $31.27. Central Garden & Pet shares last traded at $31.00, with a volume of 27,267 shares traded.

Wall Street Analysts Forecast Growth

CENTA has been the topic of several recent analyst reports. Argus downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

Central Garden & Pet Stock Down 3.8 %

The firm has a market cap of $2.02 billion, a PE ratio of 19.00 and a beta of 0.76. 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 company’s 50 day moving average price is $32.95 and its two-hundred day moving average price is $32.60.

Institutional Investors Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Central Garden & Pet by 2.5% in the second quarter. Arizona State Retirement System now owns 15,269 shares of the company’s stock worth $504,000 after purchasing an additional 377 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Central Garden & Pet in the 2nd quarter worth $93,000. LSV Asset Management increased its holdings in shares of Central Garden & Pet by 85.8% in the 2nd quarter. LSV Asset Management now owns 439,066 shares of the company’s stock worth $14,502,000 after buying an additional 202,761 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Central Garden & Pet during the 2nd quarter valued at about $37,000. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Central Garden & Pet by 7.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 50,729 shares of the company’s stock valued at $1,676,000 after acquiring an additional 3,470 shares during the last quarter. 50.82% of the stock is owned by hedge funds and other 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.