Central Garden & Pet (NASDAQ:CENTA) Receives $41.75 Consensus Target Price from Analysts

Central Garden & Pet (NASDAQ:CENTA) has received a consensus rating of “Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $41.75.

Several equities analysts have issued reports on the stock. Monness Crespi & Hardt boosted their price objective on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Truist Financial boosted their target price on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, May 13th.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $33.03 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 14.84 and a beta of 0.74. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. Central Garden & Pet has a 52 week low of $27.88 and a 52 week high of $41.03. The firm’s 50 day moving average is $36.35 and its two-hundred day moving average is $34.86.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. The business had revenue of $900.09 million for the quarter, compared to analysts’ expectations of $895.68 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. Research analysts forecast that Central Garden & Pet will post 2.28 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In related news, CAO Howard Machek sold 10,000 shares of Central Garden & Pet stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the transaction, the chief accounting officer now owns 51,474 shares in the company, valued at approximately $2,061,533.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the sale, the chairman now owns 1,189,615 shares of the company’s stock, valued at approximately $43,123,543.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,218 shares of company stock worth $25,945,528. 20.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Central Garden & Pet by 30.2% during the first quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock worth $208,093,000 after purchasing an additional 1,306,309 shares during the period. Dimensional Fund Advisors LP raised its stake in Central Garden & Pet by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,740,909 shares of the company’s stock worth $120,711,000 after acquiring an additional 23,601 shares during the period. Champlain Investment Partners LLC lifted its holdings in Central Garden & Pet by 24.8% in the first quarter. Champlain Investment Partners LLC now owns 2,303,369 shares of the company’s stock worth $85,040,000 after acquiring an additional 457,699 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Central Garden & Pet by 29.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock valued at $77,059,000 after acquiring an additional 480,805 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of Central Garden & Pet by 7.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,112,400 shares of the company’s stock valued at $41,070,000 after purchasing an additional 74,256 shares during the last quarter. Institutional investors own 50.82% of the company’s stock.

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.