Central Garden & Pet (NASDAQ:CENTA) Sets New 52-Week High After Analyst Upgrade

Central Garden & Pet (NASDAQ:CENTAGet Free Report) hit a new 52-week high during mid-day trading on Friday after Truist Financial raised their price target on the stock from $50.00 to $60.00. Truist Financial currently has a buy rating on the stock. Central Garden & Pet traded as high as $39.55 and last traded at $37.09, with a volume of 28988 shares trading hands. The stock had previously closed at $43.31.

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

Get Our Latest Stock Report on Central Garden & Pet

Insider Buying and Selling at Central Garden & Pet

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

Institutional Trading of Central Garden & Pet

Several large investors have recently added to or reduced their stakes in CENTA. GAMMA Investing LLC acquired a new stake in Central Garden & Pet in the 4th quarter valued at $35,000. Point72 Hong Kong Ltd acquired a new stake in shares of Central Garden & Pet during the second quarter valued at about $42,000. Exchange Traded Concepts LLC grew its stake in shares of Central Garden & Pet by 538.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,456 shares of the company’s stock valued at $58,000 after acquiring an additional 1,228 shares in the last quarter. State of Wyoming grew its stake in shares of Central Garden & Pet by 66.8% during the second quarter. State of Wyoming now owns 1,583 shares of the company’s stock valued at $58,000 after acquiring an additional 634 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Central Garden & Pet during the second quarter valued at about $100,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Stock Up 3.6 %

The firm has a 50 day moving average price of $30.55 and a two-hundred day moving average price of $27.33. The company has a quick ratio of 1.90, a current ratio of 3.47 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.64.

Central Garden & Pet (NASDAQ:CENTAGet Free Report) last issued its quarterly earnings results on Monday, November 20th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The business had revenue of $750.15 million for the quarter, compared to analysts’ expectations of $731.81 million. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, sell-side analysts expect that Central Garden & Pet will post 2.5 earnings per share for the current year.

Central Garden & Pet Dividend Announcement

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

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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