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(CENTA)Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the pet and lawn and garden supplies markets. Their pet products include pet bird and small animal food, aquarium products, flea, tick, mosquito and other pest control products, edible bones, cages, carriers, pet books, and other dog, cat, reptile and small animal products. Their lawn and garden products include grass seed, wild bird food, weed and insect control products, decorative outdoor patio products and ant control products. Steadily increasing revenue growth and significant debt reduction has prompted Goldman Sachs and Barclays to buy so many shares recently that they have achieved at least 5% ownership each. Other major funds either buying or establishing new holdings include: T. Rowe Price, Oppenheimer, Schwaub, Bank of New York Mellon, JP Morgan, Met Life, Vanguard, Credit Suisse, Van Kempen, Wells Fargo, AIG, Merril Lynch, Munder and Prudential. The chart shows a steady uphill climb and a VERY nice, textbook 50/100 day moving average cross on or around Jan. 21st of this year. On Friday, it hit a very important resistance level of about $7.45 on HUGE volume. If it can get through that level any time soon there is NOTHING keeping it from getting to $12 in the near future. It is somewhat extended, so I am a buyer on any correction but a pull back to $6.50 would be a nice entry point although it may not get back there. It was trading near $15 two years ago, so it has nice upside potential.
I believe this stock will double over the next three months as fuel prices rise and people stay home to repair or do asthectic work on their homes, and many people will begin to grow vegetable gardens, etc. Even though this stock showed a second quarter loss in the month of June 2008, I am convinced this stock will do a complete turnaround.
This is a garden and pet product company. Spring/summer months people are moving around, getting outside, playing with their pets, cleaning up their yards. Perfect time for this company to crank it up...with the houseing market the way it is, people are fixing things up more to sell, those not selling, are hunkering down, and this is a good way to pass the time, fixing up the yard.
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