Central Garden & Pet (NASDAQ:CENT) Given New $49.00 Price Target at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its target price decreased by Canaccord Genuity Group from $52.00 to $49.00 in a report released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a report on Tuesday, March 12th. They set a buy rating and a $52.00 price target for the company. Monness Crespi & Hardt upgraded Central Garden & Pet to a strong-buy rating in a report on Thursday, May 9th. Finally, Argus upgraded Central Garden & Pet from a hold rating to a buy rating and set a $50.00 price target for the company in a report on Tuesday, May 28th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of Buy and an average price target of $52.75.

Central Garden & Pet Trading Up 0.9 %

Shares of NASDAQ CENT opened at $38.84 on Monday. Central Garden & Pet has a one year low of $29.73 and a one year high of $47.48. The firm has a market capitalization of $2.62 billion, a PE ratio of 17.45 and a beta of 0.78. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $42.19 and a two-hundred day moving average price of $40.29.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.16. The business had revenue of $900.10 million during the quarter, compared to analyst estimates of $888.74 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, analysts predict that Central Garden & Pet will post 2.28 earnings per share for the current fiscal year.

Insider Activity at Central Garden & Pet

In related news, CAO Howard Machek sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the transaction, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at approximately $2,061,533.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Central Garden & Pet news, CAO Howard Machek sold 10,000 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the transaction, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at approximately $2,061,533.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the transaction, the chairman now directly owns 1,189,615 shares in the company, valued at $43,123,543.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 744,218 shares of company stock valued at $27,144,928. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC increased its position in Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after buying an additional 3,846 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Central Garden & Pet during the 4th quarter worth approximately $241,000. Nisa Investment Advisors LLC grew its holdings in shares of Central Garden & Pet by 28.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after purchasing an additional 1,070 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Central Garden & Pet by 21.8% during the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after purchasing an additional 919 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Central Garden & Pet by 6.6% during the 4th quarter. SG Americas Securities LLC now owns 5,613 shares of the company’s stock worth $281,000 after purchasing an additional 346 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

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.