Analysts Set Central Garden & Pet (NASDAQ:CENT) PT at $46.75

Central Garden & Pet (NASDAQ:CENT) has earned a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.75.

Several equities analysts have issued reports on the company. Truist Financial cut 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. Canaccord Genuity Group cut their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CENT. Bank of New York Mellon Corp raised its position in shares of Central Garden & Pet by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after acquiring an additional 1,873 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Central Garden & Pet by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after purchasing an additional 51,454 shares during the last quarter. Versor Investments LP acquired a new position in Central Garden & Pet during the 2nd quarter valued at about $270,000. Los Angeles Capital Management LLC bought a new position in shares of Central Garden & Pet in the 2nd quarter valued at about $295,000. Finally, American Century Companies Inc. grew its position in shares of Central Garden & Pet by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Trading Down 0.1 %

Shares of Central Garden & Pet stock opened at $40.69 on Friday. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The stock has a market capitalization of $2.67 billion, a P/E ratio of 25.12 and a beta of 0.81. The company has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $38.07. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76.

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