Central Garden & Pet (NASDAQ:CENT) Given Average Rating of “Buy” by Analysts

Shares of Central Garden & Pet (NASDAQ:CENT) have earned an average recommendation of “Buy” from the five research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $46.75.

A number of research firms have commented on CENT. Canaccord Genuity Group cut their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. 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.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds have recently modified their holdings of CENT. Marshall Wace LLP lifted its position in Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock valued at $3,234,000 after purchasing an additional 74,100 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Central Garden & Pet during the 3rd quarter valued at about $1,681,000. American Century Companies Inc. lifted 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 valued at $6,262,000 after buying an additional 32,009 shares in the last quarter. Quest Partners LLC bought a new position in shares of Central Garden & Pet during the 3rd quarter valued at approximately $797,000. Finally, JPMorgan Chase & Co. increased its holdings in Central Garden & Pet by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock worth $1,285,000 after acquiring an additional 14,964 shares in the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Trading Down 4.9 %

Central Garden & Pet stock opened at $35.80 on Wednesday. Central Garden & Pet has a one year low of $32.17 and a one year high of $47.48. The business’s fifty day moving average is $38.66 and its 200 day moving average is $37.94. The stock has a market capitalization of $2.35 billion, a PE ratio of 22.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

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

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.