Central Garden & Pet (NASDAQ:CENT) Given Consensus Rating of “Buy” by Analysts

Shares of Central Garden & Pet (NASDAQ:CENT) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.75.

Several equities analysts have recently commented on CENT shares. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Canaccord Genuity Group lowered their target price on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Monness Crespi & Hardt raised Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Finally, Argus upgraded Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, May 28th.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the sale, the director now owns 822 shares of the company’s stock, valued at $28,178.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the sale, the director now owns 822 shares of the company’s stock, valued at $28,178.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The disclosure for this sale can be found here. Insiders have sold a total of 63,986 shares of company stock worth $2,146,841 over the last three months. Corporate insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several large investors have recently made changes to their positions in CENT. DekaBank Deutsche Girozentrale acquired a new position in shares of Central Garden & Pet during the 2nd quarter worth about $51,000. Point72 Asset Management L.P. acquired a new position in shares of Central Garden & Pet during the 2nd quarter worth about $113,000. EntryPoint Capital LLC increased its stake in Central Garden & Pet by 909.2% during the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock valued at $183,000 after acquiring an additional 3,846 shares during the period. Cubist Systematic Strategies LLC bought a new position in Central Garden & Pet during the second quarter valued at about $187,000. Finally, Hsbc Holdings PLC bought a new position in Central Garden & Pet during the second quarter valued at about $207,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Stock Down 0.8 %

Shares of Central Garden & Pet stock opened at $38.92 on Thursday. Central Garden & Pet has a 1 year low of $30.75 and a 1 year high of $47.48. The company has a market cap of $2.62 billion, a P/E ratio of 17.48 and a beta of 0.78. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $38.88 and a 200 day moving average price of $41.01.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The business had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts expect that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

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.