Central Garden & Pet Company (NASDAQ:CENTA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Central Garden & Pet Company (NASDAQ:CENTA) have been given an average rating of “Hold” by the six research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $38.3333.

CENTA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Canaccord Genuity Group upped their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Zacks Research cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Central Garden & Pet in a research report on Thursday, October 30th. Finally, Wall Street Zen raised Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th.

Central Garden & Pet Stock Performance

Shares of CENTA opened at $27.83 on Wednesday. The stock has a 50-day simple moving average of $30.09 and a 200-day simple moving average of $31.58. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The stock has a market capitalization of $1.75 billion, a PE ratio of 12.65 and a beta of 0.63. Central Garden & Pet has a 1 year low of $25.97 and a 1 year high of $37.35.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The business had revenue of $960.91 million during the quarter, compared to analysts’ expectations of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. On average, analysts predict that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Ranelli sold 3,076 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the transaction, the director directly owned 1,427 shares of the company’s stock, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John D. Walker III sold 3,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider directly owned 67,328 shares of the company’s stock, valued at approximately $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Central Garden & Pet by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 274,166 shares of the company’s stock valued at $8,096,000 after purchasing an additional 10,551 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Central Garden & Pet by 30.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 47,462 shares of the company’s stock valued at $1,402,000 after purchasing an additional 11,145 shares during the period. Keybank National Association OH boosted its position in shares of Central Garden & Pet by 8.5% in the 3rd quarter. Keybank National Association OH now owns 12,420 shares of the company’s stock valued at $367,000 after purchasing an additional 970 shares during the period. Federated Hermes Inc. boosted its position in shares of Central Garden & Pet by 164.0% in the 3rd quarter. Federated Hermes Inc. now owns 858 shares of the company’s stock valued at $25,000 after purchasing an additional 533 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Central Garden & Pet in the 3rd quarter valued at about $392,000. 50.82% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.