Analysts Set Central Garden & Pet (NASDAQ:CENT) Target Price at $53.50

Central Garden & Pet (NASDAQ:CENTGet Free Report) has been assigned an average rating of “Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $53.50.

A number of analysts have recently commented on CENT shares. Canaccord Genuity Group initiated coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price for the company. Truist Financial boosted their price target 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. Canaccord Genuity Group initiated coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. TheStreet upgraded shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Finally, Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday.

Check Out Our Latest Analysis on CENT

Central Garden & Pet Trading Down 2.2 %

Shares of Central Garden & Pet stock opened at $43.45 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. The firm has a fifty day moving average price of $42.68 and a 200 day moving average price of $38.24. Central Garden & Pet has a 1 year low of $28.94 and a 1 year high of $47.48. The stock has a market cap of $2.93 billion, a PE ratio of 19.48 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.10 million during the quarter, compared to analysts’ expectations of $888.74 million. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts predict that Central Garden & Pet will post 2.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Nicholas Lahanas sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the sale, the chief financial officer now directly owns 87,528 shares of the company’s stock, valued at approximately $3,499,369.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Central Garden & Pet news, CFO Nicholas Lahanas sold 30,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $39.98, for a total value of $1,199,400.00. Following the sale, the chief financial officer now directly owns 87,528 shares of the company’s stock, valued at approximately $3,499,369.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Howard Machek sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The disclosure for this sale can be found here. Insiders have sold a total of 44,218 shares of company stock valued at $1,769,928 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in Central Garden & Pet by 32.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock worth $1,793,000 after purchasing an additional 10,237 shares during the period. EntryPoint Capital LLC boosted its stake in Central Garden & Pet by 909.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares during the period. SageView Advisory Group LLC acquired a new stake in Central Garden & Pet during the 1st quarter worth $301,000. ProShare Advisors LLC boosted its stake in Central Garden & Pet by 92.6% during the 1st quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after purchasing an additional 24,575 shares during the period. Finally, Inspire Investing LLC boosted its stake in Central Garden & Pet by 9.3% during the 1st quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock worth $359,000 after purchasing an additional 712 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

(Get Free Report

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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Analyst Recommendations for Central Garden & Pet (NASDAQ:CENT)

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