BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENT) from a hold rating to a buy rating in a research note published on Friday morning, BidAskClub reports.

Separately, SunTrust Banks downgraded Central Garden & Pet from a buy rating to a hold rating and set a $30.00 target price on the stock. in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $34.33.

NASDAQ CENT opened at $28.31 on Friday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 14.82 and a beta of -0.04. The company has a quick ratio of 3.17, a current ratio of 4.84 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $25.80 and a 200-day moving average price of $27.47. Central Garden & Pet has a twelve month low of $22.40 and a twelve month high of $40.59.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The firm had revenue of $706.60 million during the quarter, compared to analysts’ expectations of $685.99 million. Central Garden & Pet had a return on equity of 9.66% and a net margin of 4.30%. Central Garden & Pet’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Research analysts expect that Central Garden & Pet will post 1.73 EPS for the current fiscal year.

In other news, Director Thomas J. Colligan bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $21.92 per share, for a total transaction of $87,680.00. Following the completion of the transaction, the director now owns 9,079 shares of the company’s stock, valued at $199,011.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.35% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of CENT. BNP Paribas Arbitrage SA lifted its position in shares of Central Garden & Pet by 611.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after buying an additional 2,067 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Central Garden & Pet during the first quarter valued at approximately $107,000. Laurion Capital Management LP purchased a new stake in Central Garden & Pet during the first quarter valued at approximately $439,000. Commerce Bank raised its position in Central Garden & Pet by 22.9% during the first quarter. Commerce Bank now owns 8,834 shares of the company’s stock valued at $226,000 after purchasing an additional 1,644 shares during the period. Finally, Acadian Asset Management LLC raised its position in Central Garden & Pet by 59.0% during the first quarter. Acadian Asset Management LLC now owns 21,591 shares of the company’s stock valued at $551,000 after purchasing an additional 8,008 shares during the period. Institutional investors own 22.47% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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