Central Garden & Pet (NASDAQ:CENTA) Receives Consensus Recommendation of “Buy” from Brokerages

Central Garden & Pet (NASDAQ:CENTA) has earned a consensus recommendation of “Buy” from the five brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

A number of research analysts have commented on the stock. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. reduced their price target on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st.

Insider Activity at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at $28,178.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,986 shares of company stock valued at $2,146,841. 20.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CENTA. Quarry LP increased its stake in shares of Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. bought a new stake in Central Garden & Pet during the second quarter valued at $26,000. Quest Partners LLC bought a new stake in Central Garden & Pet during the second quarter valued at $37,000. CWM LLC raised its holdings in shares of Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after purchasing an additional 1,103 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Central Garden & Pet by 61.3% in 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 last quarter. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Trading Down 1.4 %

NASDAQ CENTA opened at $32.64 on Wednesday. Central Garden & Pet has a 12 month low of $27.88 and a 12 month high of $41.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.64 and a beta of 0.73. The company’s fifty day moving average price is $33.49 and its two-hundred day moving average price is $35.06.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.40 EPS. As a group, research analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

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.