Central Garden & Pet (NASDAQ:CENTA) Stock Rating Upgraded by StockNews.com

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

Several other equities research analysts also recently issued reports on CENTA. JPMorgan Chase & Co. boosted their price objective on Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a report 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 report on Friday, February 9th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $45.00.

Central Garden & Pet Trading Up 1.2 %

Shares of CENTA stock opened at $36.31 on Thursday. Central Garden & Pet has a 1-year low of $27.02 and a 1-year high of $39.55. The firm has a market cap of $2.44 billion, a PE ratio of 18.01 and a beta of 0.70. The company has a 50-day moving average of $35.93 and a two-hundred day moving average of $31.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. The firm had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. On average, analysts predict that Central Garden & Pet will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now owns 41 shares in the company, valued at approximately $1,571.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the transaction, the director now owns 41 shares in the company, valued at $1,571.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the sale, the chief financial officer now owns 115,796 shares in the company, valued at approximately $4,358,561.44. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock worth $965,026 over the last 90 days. Corporate insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Central Garden & Pet in the fourth quarter valued at about $35,000. Exchange Traded Concepts LLC raised its stake in Central Garden & Pet by 538.6% during the 3rd 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 during the last quarter. North Star Investment Management Corp. acquired a new stake in Central Garden & Pet during the 1st quarter worth approximately $194,000. Brighton Jones LLC purchased a new position in shares of Central Garden & Pet in the 4th quarter valued at approximately $215,000. Finally, Bfsg LLC purchased a new position in shares of Central Garden & Pet in the 1st quarter valued at approximately $280,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

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.