Central Garden & Pet (NASDAQ:CENT) Rating Lowered to Hold at Argus

Central Garden & Pet (NASDAQ:CENT) was downgraded by analysts at Argus from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group reduced their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Truist Financial reduced their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Performance

Central Garden & Pet stock opened at $36.04 on Tuesday. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 22.27 and a beta of 0.79. The firm’s fifty day moving average price is $38.69 and its 200 day moving average price is $37.93.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business had revenue of $669.49 million for the quarter, compared to analyst estimates of $707.83 million. The firm’s revenue was down 10.8% on a year-over-year basis. On average, research analysts forecast that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Central Garden & Pet by 693.6% in the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after purchasing an additional 1,089 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Central Garden & Pet in the 2nd quarter worth about $51,000. Glenmede Trust Co. NA boosted its holdings in shares of Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after buying an additional 395 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Central Garden & Pet during the 2nd quarter valued at about $113,000. Finally, SG Americas Securities LLC acquired a new stake in Central Garden & Pet during the third quarter worth about $111,000. 16.13% 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.