Central Garden & Pet (NASDAQ:CENTA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Central Garden & Pet (NASDAQ:CENTA) have been given an average rating of “Buy” by the five brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $41.33.

Several analysts have weighed in on the company. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday.

Insider Activity

In other news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares of the company’s stock, valued at approximately $1,336,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The stock was 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 directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,986 shares of company stock valued at $2,146,841. 20.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Several institutional investors and hedge funds have recently made changes to their positions in CENTA. Quarry LP increased its position in Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after acquiring an additional 629 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Central Garden & Pet during the 2nd quarter worth approximately $26,000. CWM LLC boosted its stake in shares of Central Garden & Pet by 3,558.1% during the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after acquiring an additional 1,103 shares in the last quarter. Quest Partners LLC purchased a new stake in Central Garden & Pet in the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted 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 valued at $50,000 after buying an additional 519 shares in the last quarter. 50.82% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Trading Up 3.0 %

Shares of NASDAQ CENTA opened at $29.43 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $32.46 and a two-hundred day simple moving average of $34.33. The firm has a market cap of $1.98 billion, a PE ratio of 13.20 and a beta of 0.72. Central Garden & Pet has a twelve month low of $27.70 and a twelve month high of $41.03.

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

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.