Central Garden & Pet (NASDAQ:CENTA) Rating Lowered to Hold at 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 report issued on Wednesday.

CENTA has been the topic of several other reports. JPMorgan Chase & Co. reduced their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Price Performance

NASDAQ CENTA opened at $30.31 on Wednesday. The company has a market cap of $2.04 billion, a PE ratio of 13.59 and a beta of 0.72. The firm’s 50 day moving average price is $32.23 and its 200-day moving average price is $34.16. 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 52-week low of $27.70 and a 52-week high of $41.03.

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

Insider Activity

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 owns 822 shares in the company, valued at approximately $28,178.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the firm’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 sale, the director now directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,986 shares of company stock valued at $2,146,841 in the last three months. 20.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors have recently bought and sold shares of the company. Quarry LP boosted its stake in Central Garden & Pet by 503.2% during the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Central Garden & Pet in the second quarter worth about $26,000. CWM LLC boosted its position in Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after acquiring an additional 1,103 shares during the last quarter. Quest Partners LLC acquired a new position in Central Garden & Pet during the second quarter worth about $37,000. Finally, GAMMA Investing LLC grew its stake in Central Garden & Pet by 61.3% during the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock valued at $50,000 after acquiring an additional 519 shares in the last quarter. 50.82% of the stock is currently 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.