Central Garden & Pet (NASDAQ:CENT) Receives $53.50 Average PT from Brokerages

Shares of Central Garden & Pet (NASDAQ:CENT) have earned a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $53.50.

CENT has been the subject of a number of research analyst reports. TheStreet upgraded Central Garden & Pet from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Canaccord Genuity Group assumed coverage on shares of Central Garden & Pet in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock. Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, May 28th. Canaccord Genuity Group assumed coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Monness Crespi & Hardt raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th.

Central Garden & Pet Stock Performance

NASDAQ:CENT opened at $38.50 on Friday. 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 firm’s fifty day simple moving average is $42.22 and its 200 day simple moving average is $40.09. The stock has a market cap of $2.59 billion, a P/E ratio of 17.30 and a beta of 0.76. Central Garden & Pet has a twelve month low of $29.73 and a twelve month high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $900.10 million for the quarter, compared to analyst estimates of $888.74 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts predict that Central Garden & Pet will post 2.28 EPS for the current year.

Insider Activity at Central Garden & Pet

In other news, insider John D. Walker III sold 4,218 shares of the company’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 transaction, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Central Garden & Pet news, Chairman William E. Brown sold 700,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the transaction, the chairman now owns 1,189,615 shares of the company’s stock, valued at approximately $43,123,543.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the transaction, the insider now owns 85,063 shares in the company, valued at approximately $3,428,889.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 744,218 shares of company stock valued at $27,144,928. 9.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CENT. EntryPoint Capital LLC grew its position in Central Garden & Pet by 909.2% in the 1st 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. Louisiana State Employees Retirement System bought a new stake in shares of Central Garden & Pet in the fourth quarter worth $241,000. Nisa Investment Advisors LLC increased its position in Central Garden & Pet by 28.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock valued at $243,000 after acquiring an additional 1,070 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Central Garden & Pet by 21.8% in the fourth quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock valued at $257,000 after acquiring an additional 919 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Central Garden & Pet by 112.4% in the first quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock worth $264,000 after purchasing an additional 3,265 shares during the last quarter. 16.13% of the stock is owned by hedge funds and other institutional investors.

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.