Central Garden & Pet (NASDAQ:CENT) Price Target Lowered to $45.00 at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its price target decreased by equities research analysts at Canaccord Genuity Group from $48.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 12.05% from the stock’s previous close.

Separately, Truist Financial reduced their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Central Garden & Pet has a consensus rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $40.16 on Tuesday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 25.13 and a beta of 0.75. The business has a 50 day moving average price of $35.83 and a 200 day moving average price of $38.59. 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 twelve month low of $31.31 and a twelve month high of $47.48.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the business’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 owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The trade was a 5.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake 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 purchasing an additional 74,100 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after buying an additional 51,454 shares in the last quarter. Empowered Funds LLC bought a new stake in Central Garden & Pet in the third quarter valued at $1,681,000. American Century Companies Inc. raised its stake in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after acquiring an additional 32,009 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Central Garden & Pet during the third quarter valued at $797,000. Institutional investors own 16.13% of the company’s stock.

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.