Zacks Research Analysts Decrease Earnings Estimates for Central Garden & Pet (NASDAQ:CENTA)

Central Garden & Pet (NASDAQ:CENTA) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of Central Garden & Pet in a research report issued to clients and investors on Wednesday, May 22nd. Zacks Research analyst S. Singh now expects that the company will post earnings per share of $1.25 for the quarter, down from their prior estimate of $1.63. The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.40 per share. Zacks Research also issued estimates for Central Garden & Pet’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at $2.24 EPS, Q3 2025 earnings at $1.38 EPS, FY2025 earnings at $2.48 EPS and FY2026 earnings at $2.58 EPS.

Other equities analysts also recently issued reports about the company. Monness Crespi & Hardt raised their price objective on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their price target on Central Garden & Pet from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. StockNews.com raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Truist Financial raised their target price on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.75.

Central Garden & Pet Stock Performance

Shares of CENTA stock opened at $39.09 on Friday. The business’s fifty day moving average price is $36.66 and its 200 day moving average price is $32.96. The firm has a market capitalization of $2.63 billion, a PE ratio of 17.56 and a beta of 0.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. Central Garden & Pet has a 1-year low of $27.02 and a 1-year high of $41.03.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently modified their holdings of CENTA. Public Employees Retirement System of Ohio lifted its holdings in shares of Central Garden & Pet by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 50,868 shares of the company’s stock valued at $1,878,000 after purchasing an additional 256 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Central Garden & Pet by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock worth $427,000 after acquiring an additional 341 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Central Garden & Pet by 37.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC boosted its position in Central Garden & Pet by 61.3% during the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after acquiring an additional 519 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in Central Garden & Pet by 1.0% during the 4th quarter. GHP Investment Advisors Inc. now owns 70,265 shares of the company’s stock valued at $3,094,000 after acquiring an additional 678 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Insider Buying and Selling at Central Garden & Pet

In related news, insider John D. Walker III sold 4,218 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the sale, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the transaction, the insider now owns 85,063 shares in the company, valued at approximately $3,428,889.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Howard Machek sold 10,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the completion of the transaction, the chief accounting officer now owns 51,474 shares of the company’s stock, valued at approximately $2,061,533.70. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by insiders.

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.