Argus Downgrades Central Garden & Pet (NASDAQ:CENTA) to Hold

Central Garden & Pet (NASDAQ:CENTA) was downgraded by investment analysts at Argus from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Finviz reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price 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. StockNews.com lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Three 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $31.97 on Tuesday. The stock has a fifty day moving average price of $32.95 and a 200 day moving average price of $32.60. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The company has a market cap of $2.10 billion, a PE ratio of 19.76 and a beta of 0.76.

Institutional Inflows and Outflows

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

About Central Garden & Pet

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.