Zacks Research Equities Analysts Cut Earnings Estimates for Central Garden & Pet (NASDAQ:CENT)

Central Garden & Pet (NASDAQ:CENT) – Stock analysts at Zacks Research dropped their Q4 2024 earnings estimates for shares of Central Garden & Pet in a note issued to investors on Wednesday, August 21st. Zacks Research analyst S. Singh now anticipates that the company will post earnings per share of ($0.20) for the quarter, down from their previous forecast of ($0.02). The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.23 per share. Zacks Research also issued estimates for Central Garden & Pet’s Q1 2025 earnings at $0.02 EPS and Q4 2025 earnings at ($0.08) EPS.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share.

A number of other equities analysts have also issued reports on CENT. Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, May 28th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Canaccord Genuity Group dropped their price objective on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Finally, Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $52.75.

Central Garden & Pet Trading Up 2.6 %

CENT opened at $39.63 on Friday. 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 $30.75 and a 52 week high of $47.48. The business’s 50 day moving average is $38.71 and its two-hundred day moving average is $41.09. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 17.77 and a beta of 0.78.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of Central Garden & Pet during the 2nd quarter worth $113,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Central Garden & Pet in the second quarter valued at about $187,000. Marshall Wace LLP boosted its holdings in Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after buying an additional 74,100 shares in the last quarter. Public Sector Pension Investment Board grew its position in Central Garden & Pet by 6.1% during the second quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock worth $808,000 after buying an additional 1,200 shares during the period. Finally, Sei Investments Co. increased its holdings in Central Garden & Pet by 20.0% in the second quarter. Sei Investments Co. now owns 36,710 shares of the company’s stock valued at $1,413,000 after buying an additional 6,121 shares in the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Insider Buying and Selling

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. The disclosure for this sale can be found here. Insiders sold a total of 703,986 shares of company stock valued at $25,509,441 over the last three months. 9.53% of the stock is currently owned by company insiders.

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.