Canaccord Genuity Group Cuts Central Garden & Pet (NASDAQ:CENT) Price Target to $45.00

Central Garden & Pet (NASDAQ:CENT) had its price target cut by Canaccord Genuity Group from $48.00 to $45.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Truist Financial dropped their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $46.75.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $40.16 on Tuesday. The company has a market cap of $2.71 billion, a P/E ratio of 24.79 and a beta of 0.75. The business has a fifty day simple moving average of $35.87 and a 200-day simple moving average of $38.60. Central Garden & Pet has a 52 week low of $31.31 and a 52 week high of $47.48. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently modified their holdings of CENT. DekaBank Deutsche Girozentrale acquired a new position in Central Garden & Pet during the second quarter valued at approximately $51,000. Glenmede Trust Co. NA lifted its holdings in shares of Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after acquiring an additional 395 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Central Garden & Pet during the 3rd quarter worth $111,000. Point72 Asset Management L.P. acquired a new stake in Central Garden & Pet in the 2nd quarter valued at $113,000. Finally, Franklin Resources Inc. raised its position in Central Garden & Pet by 29.0% in the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after purchasing an additional 1,016 shares during the period. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

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.