JPMorgan Chase & Co. Trims Central Garden & Pet (NASDAQ:CENTA) Target Price to $32.00

Central Garden & Pet (NASDAQ:CENTA) had its target price reduced by JPMorgan Chase & Co. from $34.00 to $32.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently weighed in on CENTA. Canaccord Genuity Group raised shares of Central Garden & Pet to a strong-buy rating in a research note on Monday, July 1st. StockNews.com raised shares of Central Garden & Pet from a hold rating to a buy rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet presently has an average rating of Buy and an average target price of $41.33.

Central Garden & Pet Stock Performance

Shares of CENTA opened at $30.05 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The company has a 50-day simple moving average of $32.42 and a 200-day simple moving average of $34.26. The company has a market capitalization of $2.03 billion, a PE ratio of 13.48 and a beta of 0.72.

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

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 approximately $28,178.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,986 shares of company stock valued at $2,146,841. Corporate insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP raised its stake in Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after acquiring an additional 629 shares during the period. Federated Hermes Inc. bought a new stake in shares of Central Garden & Pet in the 2nd quarter worth approximately $26,000. Quest Partners LLC acquired a new position in Central Garden & Pet during the 2nd quarter valued at approximately $37,000. CWM LLC grew its stake in Central Garden & Pet by 3,558.1% during the 2nd 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. Finally, GAMMA Investing LLC increased its position in 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 period. 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.