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

Central Garden & Pet (NASDAQ:CENTA) has earned an average recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $40.50.

CENTA has been the subject of a number of research reports. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of Central Garden & Pet from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Truist Financial lifted their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 13th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Finally, Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th.

Central Garden & Pet Trading Up 1.6 %

CENTA opened at $34.04 on Tuesday. Central Garden & Pet has a twelve month low of $27.88 and a twelve month high of $41.03. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average of $34.73 and a 200-day moving average of $35.41. The stock has a market cap of $2.29 billion, a PE ratio of 15.26 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.09 million during the quarter, compared to analysts’ expectations of $895.68 million. On average, sell-side analysts predict that Central Garden & Pet will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of Central Garden & Pet stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John D. Walker III sold 4,218 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman William E. Brown sold 700,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the completion of the sale, the chairman now directly owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 714,218 shares of company stock valued at $25,945,528. Company insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Central Garden & Pet during the fourth quarter valued at approximately $35,000. CWM LLC grew its stake in Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after acquiring an additional 1,103 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Central Garden & Pet by 37.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after acquiring an additional 449 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Central Garden & Pet by 16.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company’s stock valued at $83,000 after acquiring an additional 355 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Central Garden & Pet during the first quarter valued at approximately $174,000. Hedge funds and other institutional investors own 50.82% 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.