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

Central Garden & Pet (NASDAQ:CENT) has earned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $46.75.

Several equities analysts have issued reports on CENT shares. Argus downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group cut their price objective on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Truist Financial cut their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors have recently made changes to their positions in CENT. Marshall Wace LLP grew its stake in Central Garden & Pet by 748.5% in the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock valued at $3,234,000 after acquiring an additional 74,100 shares during the period. Empowered Funds LLC acquired a new position in Central Garden & Pet in the third quarter valued at about $1,681,000. American Century Companies Inc. grew its stake in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after acquiring an additional 32,009 shares during the period. Quest Partners LLC acquired a new position in Central Garden & Pet in the third quarter valued at about $797,000. Finally, JPMorgan Chase & Co. grew its stake in Central Garden & Pet by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock valued at $1,285,000 after acquiring an additional 14,964 shares during the period. 16.13% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Price Performance

Shares of CENT stock opened at $35.15 on Wednesday. The stock’s fifty day simple moving average is $38.74 and its 200 day simple moving average is $37.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 21.72 and a beta of 0.79. Central Garden & Pet has a one year low of $32.17 and a one year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The firm had revenue of $669.49 million during the quarter, compared to the consensus estimate of $707.83 million. The company’s revenue was down 10.8% on a year-over-year basis. On average, analysts expect that Central Garden & Pet will post 2.22 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.