Central Garden & Pet (NASDAQ:CENTA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Central Garden & Pet (NASDAQ:CENTA) have been given a consensus rating of “Buy” by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $42.00.

CENTA has been the subject of several recent research reports. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. dropped their target price on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th.

Central Garden & Pet Stock Down 1.8 %

CENTA stock opened at $32.10 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. Central Garden & Pet has a one year low of $27.88 and a one year high of $41.03. The company has a fifty day moving average of $33.49 and a 200-day moving average of $35.20. The stock has a market capitalization of $2.16 billion, a PE ratio of 14.42 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $1.40 earnings per share. As a group, analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction that occurred 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 transaction, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The disclosure for this sale can be found here. Insiders have sold a total of 63,986 shares of company stock valued at $2,146,841 over the last ninety days. Corporate insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP increased its stake in shares of Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after buying an additional 629 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Central Garden & Pet in the second quarter worth $26,000. CWM LLC increased its stake in shares of Central Garden & Pet by 3,558.1% in the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the second quarter worth $37,000. Finally, GAMMA Investing LLC increased its stake in shares of Central Garden & Pet by 61.3% in the first quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after buying an additional 519 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

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.