Central Garden & Pet (NASDAQ:CENTA) Price Target Raised to $60.00 at Truist Financial

Central Garden & Pet (NASDAQ:CENTAFree Report) had its target price raised by Truist Financial from $50.00 to $60.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts also recently issued reports on CENTA. JPMorgan Chase & Co. raised their price objective on shares of Central Garden & Pet from $40.00 to $43.00 and gave the stock a neutral rating in a report on Thursday. TheStreet cut shares of Central Garden & Pet from a b rating to a c+ rating in a report on Tuesday, November 21st. Finally, StockNews.com raised Central Garden & Pet from a hold rating to a buy rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $45.00.

Check Out Our Latest Research Report on Central Garden & Pet

Central Garden & Pet Stock Down 17.1 %

CENTA stock opened at $35.90 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.25 and a beta of 0.64. The company has a quick ratio of 1.90, a current ratio of 3.73 and a debt-to-equity ratio of 0.82. Central Garden & Pet has a twelve month low of $27.02 and a twelve month high of $39.55. The stock’s 50 day moving average is $30.55 and its 200-day moving average is $27.31.

Central Garden & Pet (NASDAQ:CENTAGet Free Report) last released its quarterly earnings results on Monday, November 20th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.37%. The company had revenue of $750.15 million for the quarter, compared to analyst estimates of $731.81 million. During the same period last year, the firm earned ($0.03) earnings per share. Sell-side analysts expect that Central Garden & Pet will post 2.53 EPS for the current fiscal year.

Central Garden & Pet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, February 8th. Investors of record on Monday, January 8th were given a $20.00 dividend. The ex-dividend date was Friday, February 9th.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 4,375 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $23.18, for a total transaction of $101,416.00. Following the transaction, the director now directly owns 227 shares in the company, valued at $5,262.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Edward Hanson sold 9,375 shares of Central Garden & Pet stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.11, for a total value of $235,380.00. Following the transaction, the insider now directly owns 53,918 shares of the company’s stock, valued at $1,353,730.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Ranelli sold 4,375 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $23.18, for a total transaction of $101,416.00. Following the sale, the director now directly owns 227 shares of the company’s stock, valued at approximately $5,262.04. The disclosure for this sale can be found here. Insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Central Garden & Pet by 44.5% in the first quarter. PNC Financial Services Group Inc. now owns 12,340 shares of the company’s stock worth $503,000 after purchasing an additional 3,801 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Central Garden & Pet during the first quarter worth about $455,000. MetLife Investment Management LLC grew its holdings in Central Garden & Pet by 58.2% in the first quarter. MetLife Investment Management LLC now owns 21,193 shares of the company’s stock worth $864,000 after purchasing an additional 7,797 shares during the period. Rhumbline Advisers increased its stake in shares of Central Garden & Pet by 1.1% during the first quarter. Rhumbline Advisers now owns 113,324 shares of the company’s stock valued at $4,621,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Central Garden & Pet by 11.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,296 shares of the company’s stock valued at $1,480,000 after purchasing an additional 3,823 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Central Garden & Pet

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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.

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