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

Central Garden & Pet (NASDAQ:CENTA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

CENTA has been the topic of several other reports. Truist Financial upped their price objective on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted 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, February 8th. Finally, Monness Crespi & Hardt increased their target price on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of “Moderate Buy” and an average price target of $44.25.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $39.99 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. Central Garden & Pet has a fifty-two week low of $27.02 and a fifty-two week high of $40.18. The stock has a market cap of $2.69 billion, a PE ratio of 19.80 and a beta of 0.70. The stock has a fifty day moving average of $35.89 and a 200-day moving average of $31.86.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million for the quarter, compared to analysts’ expectations 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 anticipate that Central Garden & Pet will post 2.37 earnings per share for the current year.

Insider Activity

In other news, Director John Ranelli sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the sale, the director now directly owns 41 shares of the company’s stock, valued at approximately $1,571.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the sale, the director now directly owns 41 shares of the company’s stock, valued at $1,571.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock worth $965,026 in the last quarter. 20.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Raymond James & Associates boosted its holdings in Central Garden & Pet by 6.7% in the third quarter. Raymond James & Associates now owns 15,406 shares of the company’s stock worth $618,000 after purchasing an additional 970 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Central Garden & Pet by 0.6% in the 3rd quarter. New York State Teachers Retirement System now owns 91,749 shares of the company’s stock worth $3,678,000 after buying an additional 550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Central Garden & Pet by 27.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,978 shares of the company’s stock worth $320,000 after acquiring an additional 1,713 shares during the period. Assenagon Asset Management S.A. increased its position in Central Garden & Pet by 99.2% during the third quarter. Assenagon Asset Management S.A. now owns 235,008 shares of the company’s stock valued at $9,421,000 after acquiring an additional 117,037 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in Central Garden & Pet in the third quarter valued at about $1,237,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

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.