Central Garden & Pet (NASDAQ:CENTA) Given New $32.00 Price Target at JPMorgan Chase & Co.

Central Garden & Pet (NASDAQ:CENTA) had its price target decreased by JPMorgan Chase & Co. from $34.00 to $32.00 in a research note released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

CENTA has been the subject of several other research reports. Canaccord Genuity Group raised shares of Central Garden & Pet to a strong-buy rating in a research report on Monday, July 1st. StockNews.com upgraded Central Garden & Pet from a hold rating to a buy rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $41.33.

Central Garden & Pet Price Performance

NASDAQ:CENTA opened at $29.43 on Friday. Central Garden & Pet has a 12-month low of $27.70 and a 12-month high of $41.03. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 13.20 and a beta of 0.72. The company’s 50-day moving average is $32.46 and its two-hundred day moving average is $34.34. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter last year, the firm earned $1.40 earnings per share. Research analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,986 shares of company stock valued at $2,146,841 over the last three months. Company insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Central Garden & Pet in the 4th quarter worth $281,000. Vanguard Group Inc. boosted its position in shares of Central Garden & Pet by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,330,010 shares of the company’s stock valued at $190,694,000 after purchasing an additional 29,072 shares during the period. PNC Financial Services Group Inc. increased its stake in Central Garden & Pet by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock worth $427,000 after purchasing an additional 341 shares in the last quarter. GAMMA Investing LLC increased its stake in Central Garden & Pet by 61.3% in the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after purchasing an additional 519 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in Central Garden & Pet by 22.7% during the first quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock valued at $6,784,000 after buying an additional 33,983 shares in the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

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.