Central Garden & Pet (NASDAQ:CENTA) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Central Garden & Pet (NASDAQ:CENTA) from a buy rating to a hold rating in a research note released on Wednesday morning.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Price Performance

NASDAQ:CENTA opened at $30.75 on Wednesday. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The stock has a fifty day moving average of $32.32 and a 200 day moving average of $34.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.79 and a beta of 0.72.

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

Insider Activity at Central Garden & Pet

In other 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 approximately $28,178.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,986 shares of company stock valued at $2,146,841. Insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

Several large investors have recently modified their holdings of CENTA. Quarry LP increased its position in Central Garden & Pet by 503.2% during 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 period. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet during the second quarter valued at about $26,000. Quest Partners LLC bought a new position in Central Garden & Pet in the second quarter worth about $37,000. CWM LLC lifted its holdings in Central Garden & Pet by 3,558.1% in the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares during the period. Finally, 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 valued at $50,000 after acquiring an additional 519 shares in the last quarter. 50.82% of the stock is owned by institutional investors.

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.