Central Garden & Pet (NASDAQ:CENT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Central Garden & Pet (NASDAQ:CENT) have earned an average rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $46.75.

CENT has been the topic of a number of recent research reports. Argus lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Canaccord Genuity Group reduced their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th.

Central Garden & Pet Price Performance

Central Garden & Pet stock opened at $35.79 on Thursday. The firm has a market capitalization of $2.34 billion, a PE ratio of 19.66 and a beta of 0.73. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The firm’s 50-day simple moving average is $37.15 and its 200 day simple moving average is $37.41. Central Garden & Pet has a 52 week low of $32.17 and a 52 week high of $47.48.

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

Insider Activity

In other news, insider John D. Walker III sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in Central Garden & Pet by 693.6% during the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after purchasing an additional 1,089 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Central Garden & Pet during the 4th quarter worth approximately $58,000. Glenmede Trust Co. NA increased its position in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Central Garden & Pet by 201.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company’s stock worth $148,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Amundi increased its position in Central Garden & Pet by 193.8% during the 4th quarter. Amundi now owns 4,201 shares of the company’s stock worth $151,000 after purchasing an additional 2,771 shares in the last quarter. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

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.