Central Garden & Pet (NASDAQ:CENTA) Stock Rating Lowered by StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other brokerages have also recently commented on CENTA. Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Monness Crespi & Hardt lifted their price target on shares of Central Garden & Pet from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Truist Financial lifted their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.75.

Central Garden & Pet Stock Performance

Shares of NASDAQ CENTA opened at $33.23 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33. The company has a market cap of $2.24 billion, a P/E ratio of 14.93 and a beta of 0.75. The firm’s fifty day moving average is $36.26 and its two-hundred day moving average is $34.94. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03.

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

Insider Buying and Selling

In related news, insider John D. Walker III sold 4,218 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the transaction, the insider now owns 85,063 shares in the company, valued at approximately $3,428,889.53. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now directly owns 85,063 shares of the company’s stock, valued at approximately $3,428,889.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Howard Machek sold 10,000 shares of the company’s 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 completion of the sale, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The disclosure for this sale can be found here. Insiders sold a total of 714,218 shares of company stock worth $25,945,528 in the last 90 days. 20.28% of the stock is owned by corporate insiders.

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 acquiring an additional 1,306,309 shares during the period. Dimensional Fund Advisors LP raised its position 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 raised its position in Central Garden & Pet by 24.8% during 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 period. Allspring Global Investments Holdings LLC raised its position in Central Garden & Pet by 29.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock worth $77,059,000 after acquiring an additional 480,805 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in 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 worth $41,070,000 after acquiring an additional 74,256 shares during the period. 50.82% of the stock is owned by hedge funds and other 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.