Brokerages Set Central Garden & Pet (NASDAQ:CENTA) Price Target at $41.33

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

CENTA has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

Insiders Place Their Bets

In related news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now 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 filing with the SEC, which is accessible through the SEC website. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at $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 available through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the company’s 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 completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock worth $2,146,841 over the last three months. 20.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CENTA. Quarry LP boosted its holdings in Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet during the 2nd quarter valued at approximately $26,000. CWM LLC grew its position in shares of Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the second quarter worth $37,000. Finally, Public Employees Retirement Association of Colorado raised its holdings in Central Garden & Pet by 37.4% in 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. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $32.07 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The firm has a market cap of $2.16 billion, a PE ratio of 14.79 and a beta of 0.73. The firm has a 50 day simple moving average of $31.09 and a 200-day simple moving average of $33.65. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, beating 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 company had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $1.40 EPS. On average, equities analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

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.