Central Garden & Pet (NASDAQ:CENT) Receives Average Recommendation of “Buy” from Brokerages

Central Garden & Pet (NASDAQ:CENT) has received a consensus rating of “Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.75.

A number of brokerages recently commented on CENT. Argus cut shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group dropped their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial cut their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Central Garden & Pet in the third quarter valued at approximately $1,681,000. Quest Partners LLC bought a new position in shares of Central Garden & Pet in the 3rd quarter worth $797,000. American Century Companies Inc. increased its holdings in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the last quarter. Marshall Wace LLP raised its position in shares of Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock valued at $3,234,000 after buying an additional 74,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after acquiring an additional 1,873 shares during the last quarter. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Performance

Shares of CENT opened at $35.81 on Wednesday. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The stock’s fifty day moving average price is $38.76 and its two-hundred day moving average price is $37.87. The firm has a market cap of $2.35 billion, a PE ratio of 22.13 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $669.49 million during the quarter, compared to analyst estimates of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities research analysts forecast that Central Garden & Pet will post 2.22 EPS for the current year.

About Central Garden & Pet

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.