Central Garden & Pet (NASDAQ:CENT) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Central Garden & Pet (NASDAQ:CENT) issued its quarterly earnings data on Wednesday. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.16, Briefing.com reports. The business had revenue of $900.10 million for the quarter, compared to analysts’ expectations of $888.74 million. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Central Garden & Pet updated its FY 2024 guidance to 2.000- EPS and its FY24 guidance to $2.50 EPS.

Central Garden & Pet Trading Up 9.1 %

CENT stock traded up $3.80 during midday trading on Thursday, reaching $45.53. The company’s stock had a trading volume of 104,128 shares, compared to its average volume of 110,478. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. The stock has a fifty day simple moving average of $41.57 and a two-hundred day simple moving average of $36.32. Central Garden & Pet has a 1 year low of $28.58 and a 1 year high of $45.94. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 22.50 and a beta of 0.72.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial increased their price target on Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 9th. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Finally, TheStreet upgraded Central Garden & Pet from a “c+” rating to a “b-” rating in a report on Friday, March 1st.

Insiders Place Their Bets

In other news, Director John Ranelli sold 2,400 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total transaction of $92,016.00. Following the transaction, the director now owns 41 shares of the company’s stock, valued at approximately $1,571.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now owns 41 shares of the company’s stock, valued at $1,571.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Edward Hanson sold 5,321 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $37.19, for a total value of $197,887.99. Following the sale, the insider now directly owns 35,460 shares in the company, valued at approximately $1,318,757.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,822 shares of company stock worth $965,026 over the last quarter. Company insiders own 9.53% 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.