Analysts Set Central Garden & Pet (NASDAQ:CENTA) PT at $42.00

Shares of Central Garden & Pet (NASDAQ:CENTA) have been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

Several analysts recently weighed in on CENTA shares. JPMorgan Chase & Co. reduced their price objective on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Finally, StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction dated 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 owns 822 shares in the company, valued at approximately $28,178.16. This trade 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.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in CENTA. Quarry LP increased its holdings in Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after acquiring 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 raised its position 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 valued at $37,000 after purchasing an additional 1,103 shares during the period. Quest Partners LLC purchased a new stake in shares of Central Garden & Pet during the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC boosted its holdings in Central Garden & Pet by 61.3% in the 1st 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 hedge funds and other institutional investors.

Central Garden & Pet Price Performance

Shares of CENTA stock opened at $28.56 on Friday. Central Garden & Pet has a twelve month low of $27.70 and a twelve month high of $41.03. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $32.55 and a 200 day simple moving average of $34.39. The company has a market cap of $1.93 billion, a P/E ratio of 12.81 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENTA) last issued 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. The business had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1.01 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, sell-side analysts forecast that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

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.