Central Garden & Pet (NASDAQ:CENTA) Given Consensus Recommendation of “Buy” by Analysts

Central Garden & Pet (NASDAQ:CENTA) has been given an average recommendation of “Buy” by the five analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $42.00.

CENTA has been the subject of several analyst reports. Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. lowered their price objective on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock valued at $2,146,841 over the last 90 days. Company insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after purchasing an additional 629 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet in the 2nd quarter worth approximately $26,000. CWM LLC grew its holdings in shares of Central Garden & Pet by 3,558.1% in the second quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after acquiring an additional 1,103 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Central Garden & Pet during the second quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted its holdings in Central Garden & Pet by 61.3% during the first quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after acquiring an additional 519 shares during the period. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $33.07 on Wednesday. The company’s 50 day moving average price is $33.47 and its two-hundred day moving average price is $35.10. The firm has a market capitalization of $2.23 billion, a P/E ratio of 14.86 and a beta of 0.73. Central Garden & Pet has a fifty-two week low of $27.88 and a fifty-two week high of $41.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to analyst estimates of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter in the previous year, the company posted $1.40 EPS. On average, equities analysts forecast that Central Garden & Pet will post 2.11 earnings per share for the current fiscal 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.