Central Garden & Pet (NASDAQ:CENTA) Receives Average Rating of “Moderate Buy” from Brokerages

Central Garden & Pet (NASDAQ:CENTA) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.00.

A number of research firms have commented on CENTA. JPMorgan Chase & Co. cut their price target on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Argus cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th.

Central Garden & Pet Trading Up 0.6 %

Central Garden & Pet stock opened at $32.12 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03. The stock has a market cap of $2.10 billion, a P/E ratio of 17.65 and a beta of 0.70. The firm’s fifty day moving average price is $31.93 and its 200-day moving average price is $31.89.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Equities research analysts forecast that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares in the company, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in shares of Central Garden & Pet by 120.3% in the third quarter. Intech Investment Management LLC now owns 22,721 shares of the company’s stock worth $713,000 after purchasing an additional 12,407 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Central Garden & Pet by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 773,023 shares of the company’s stock valued at $24,273,000 after buying an additional 41,241 shares during the period. Cerity Partners LLC raised its holdings in shares of Central Garden & Pet by 33.4% during the third quarter. Cerity Partners LLC now owns 20,667 shares of the company’s stock valued at $649,000 after acquiring an additional 5,178 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Central Garden & Pet by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 691,092 shares of the company’s stock worth $21,700,000 after acquiring an additional 59,368 shares during the period. Finally, FMR LLC boosted its holdings in Central Garden & Pet by 33.8% in the third quarter. FMR LLC now owns 76,388 shares of the company’s stock valued at $2,399,000 after acquiring an additional 19,306 shares in the last quarter. 50.82% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.