Central Garden & Pet (NASDAQ:CENTA) Shares Gap Up Following Better-Than-Expected Earnings

Central Garden & Pet (NASDAQ:CENTA)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $31.69, but opened at $33.92. Central Garden & Pet shares last traded at $33.94, with a volume of 30,880 shares changing hands.

The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%.

Analysts Set New Price Targets

CENTA has been the topic of several research analyst reports. Argus cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Institutional Trading of Central Garden & Pet

Several hedge funds have recently added to or reduced their stakes in the business. Keybank National Association OH grew its position in Central Garden & Pet by 2.7% during the fourth quarter. Keybank National Association OH now owns 17,640 shares of the company’s stock worth $583,000 after buying an additional 468 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Central Garden & Pet by 0.4% in the 4th quarter. Rhumbline Advisers now owns 160,457 shares of the company’s stock worth $5,303,000 after acquiring an additional 678 shares during the period. KBC Group NV raised 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 purchasing an additional 732 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Central Garden & Pet by 668.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock worth $31,000 after purchasing an additional 809 shares during the period. Finally, CWM LLC boosted its stake in 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 in the last quarter. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Price Performance

The stock has a market cap of $2.24 billion, a P/E ratio of 21.13 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 fifty day simple moving average is $32.64 and its 200-day simple moving average is $32.29.

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.