Analysts Set Central Garden & Pet (NASDAQ:CENT) PT at $47.50

Central Garden & Pet (NASDAQ:CENT) has received a consensus recommendation of “Buy” from the five analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $47.50.

CENT has been the subject of several analyst reports. Truist Financial dropped their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group restated a “buy” rating and set a $48.00 price objective on shares of Central Garden & Pet in a research report on Monday, September 30th. Finally, Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st.

Insider Activity at Central Garden & Pet

In other news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet 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 owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. 9.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC lifted its stake in shares of Central Garden & Pet by 9.3% in the first quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock worth $359,000 after buying an additional 712 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Central Garden & Pet by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock valued at $808,000 after acquiring an additional 1,200 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Central Garden & Pet in the second quarter worth about $51,000. Bank of New York Mellon Corp increased its position in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Central Garden & Pet in the second quarter worth approximately $113,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Down 0.2 %

NASDAQ:CENT opened at $33.60 on Friday. 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 stock’s 50 day moving average price is $36.75 and its two-hundred day moving average price is $39.31. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.07 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.11. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The business had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $1.40 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Central Garden & Pet will post 2.11 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.