Central Garden & Pet (NASDAQ:CENT) Receives Average Recommendation of “Buy” from Analysts

Shares of Central Garden & Pet (NASDAQ:CENT) have been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $47.50.

Several research firms have commented on CENT. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research report on Monday, September 30th. Truist Financial cut their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the company’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 sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.53% of the stock is owned by company insiders.

Institutional Trading of Central Garden & Pet

Several hedge funds and other institutional investors have recently modified their holdings of CENT. Glenmede Trust Co. NA boosted its holdings in Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after buying an additional 395 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Central Garden & Pet by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock worth $330,000 after acquiring an additional 464 shares during the period. Inspire Investing LLC grew its position in shares of Central Garden & Pet by 10.3% in the second quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock valued at $356,000 after purchasing an additional 861 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Central Garden & Pet by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock valued at $808,000 after purchasing an additional 1,200 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Central Garden & Pet during the 2nd quarter worth about $51,000. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

Shares of CENT stock opened at $37.02 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The firm has a 50-day moving average of $35.76 and a 200-day moving average of $38.81. Central Garden & Pet has a one year low of $30.75 and a one year high of $47.48. The company has a market cap of $2.50 billion, a P/E ratio of 17.08 and a beta of 0.75.

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.