Central Garden & Pet (NASDAQ:CENTA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a research note published on Friday.

Several other brokerages also recently weighed in on CENTA. JPMorgan Chase & Co. lifted their target price on Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Truist Financial lifted their target price on Central Garden & Pet from $50.00 to $60.00 and gave the company a buy rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Central Garden & Pet currently has a consensus rating of Moderate Buy and an average price target of $45.00.

Central Garden & Pet Trading Up 1.9 %

Shares of NASDAQ CENTA opened at $34.52 on Friday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 17.09 and a beta of 0.69. Central Garden & Pet has a 12-month low of $27.02 and a 12-month high of $39.55. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $36.20 and its 200 day simple moving average is $30.83.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.15. The business had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. Equities research analysts expect that Central Garden & Pet will post 2.37 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.64, for a total transaction of $493,121.64. Following the transaction, the chief financial officer now directly owns 115,796 shares in the company, valued at approximately $4,358,561.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Howard Machek sold 5,000 shares of Central Garden & Pet stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total transaction of $182,000.00. Following the transaction, the chief accounting officer now directly owns 59,406 shares in the company, valued at approximately $2,162,378.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.64, for a total value of $493,121.64. Following the transaction, the chief financial officer now owns 115,796 shares in the company, valued at $4,358,561.44. The disclosure for this sale can be found here. Insiders have sold 25,822 shares of company stock valued at $965,026 in the last quarter. Corporate insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Central Garden & Pet in the 4th quarter worth $35,000. Point72 Hong Kong Ltd acquired a new position in shares of Central Garden & Pet in the 2nd quarter worth $42,000. Exchange Traded Concepts LLC grew its holdings in shares of Central Garden & Pet by 538.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,456 shares of the company’s stock worth $58,000 after acquiring an additional 1,228 shares during the last quarter. State of Wyoming grew its holdings in shares of Central Garden & Pet by 66.8% in the 2nd quarter. State of Wyoming now owns 1,583 shares of the company’s stock worth $58,000 after acquiring an additional 634 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Central Garden & Pet in the 2nd quarter worth $100,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

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.