Central Garden & Pet (NASDAQ:CENT) Stock Rating Lowered by Argus

Central Garden & Pet (NASDAQ:CENT) was downgraded by equities research analysts at Argus from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Truist Financial lowered their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Central Garden & Pet currently has an average rating of “Buy” and an average target price of $46.75.

Central Garden & Pet Stock Performance

CENT stock opened at $35.80 on Tuesday. The stock’s fifty day moving average is $38.66 and its two-hundred day moving average is $37.94. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 22.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. The company had revenue of $669.49 million for the quarter, compared to analyst estimates of $707.83 million. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The business’s revenue was down 10.8% compared to the same quarter last year. On average, research analysts predict that Central Garden & Pet will post 2.22 EPS for the current year.

Institutional Trading of Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in CENT. Versant Capital Management Inc boosted its stake in shares of Central Garden & Pet by 693.6% during the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after acquiring an additional 1,089 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Central Garden & Pet in the second quarter worth about $51,000. Glenmede Trust Co. NA increased its position in shares of Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after acquiring an additional 395 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Central Garden & Pet in the 3rd quarter valued at approximately $111,000. Finally, Point72 Asset Management L.P. acquired a new position in Central Garden & Pet in the 2nd quarter worth approximately $113,000. 16.13% of the stock is currently 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.