Central Garden & Pet (NASDAQ:CENTA) Given Average Recommendation of “Buy” by Analysts

Central Garden & Pet (NASDAQ:CENTA) has earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.33.

A number of equities analysts recently weighed in on CENTA shares. JPMorgan Chase & Co. decreased their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 11th. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

Central Garden & Pet Stock Down 2.5 %

Shares of Central Garden & Pet stock opened at $34.20 on Friday. The company has a 50-day simple moving average of $32.12 and a two-hundred day simple moving average of $32.76. The stock has a market capitalization of $2.24 billion, a PE ratio of 21.14 and a beta of 0.78. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Central Garden & Pet by 3,558.1% in the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after purchasing an additional 1,103 shares during the period. Nisa Investment Advisors LLC raised its position in Central Garden & Pet by 16.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company’s stock worth $83,000 after acquiring an additional 355 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the company’s stock worth $902,000 after acquiring an additional 600 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Central Garden & Pet by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 482,252 shares of the company’s stock valued at $15,929,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Central Garden & Pet during the 2nd quarter valued at approximately $85,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

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.