Analysts Set Central Garden & Pet (NASDAQ:CENT) Target Price at $47.50

Central Garden & Pet (NASDAQ:CENT) has received a consensus recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $47.50.

A number of brokerages recently weighed in on CENT. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 price target on shares of Central Garden & Pet in a research note on Monday, September 30th. Truist Financial reduced their price objective on 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.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $38.81 on Tuesday. Central Garden & Pet has a 12 month low of $31.31 and a 12 month high of $47.48. The firm has a market capitalization of $2.62 billion, a P/E ratio of 17.90 and a beta of 0.75. 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 company’s fifty day moving average price is $35.79 and its 200 day moving average price is $38.64.

Insider Activity

In related news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in Central Garden & Pet in the 2nd quarter worth about $51,000. Glenmede Trust Co. NA boosted its position in shares of Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after acquiring an additional 395 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Central Garden & Pet in the third quarter valued at approximately $111,000. Point72 Asset Management L.P. acquired a new position in Central Garden & Pet during the second quarter worth approximately $113,000. Finally, EntryPoint Capital LLC raised its stake in Central Garden & Pet by 909.2% during the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

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.