Central Garden & Pet (NASDAQ:CENTA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

CENTA has been the topic of a number of other research reports. Truist Financial reissued a “hold” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Central Garden & Pet currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $32.47 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 17.84 and a beta of 0.68. The stock’s 50-day moving average is $31.31 and its 200-day moving average is $32.06. Central Garden & Pet has a one year low of $27.70 and a one year high of $40.39.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The business had revenue of $833.54 million for the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Equities analysts predict that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Central Garden & Pet by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company’s stock worth $197,606,000 after buying an additional 306,449 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Central Garden & Pet by 15.2% during the 1st quarter. American Century Companies Inc. now owns 1,581,900 shares of the company’s stock worth $51,776,000 after acquiring an additional 208,800 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Central Garden & Pet by 21.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company’s stock worth $38,110,000 after acquiring an additional 202,761 shares during the period. Armistice Capital LLC increased its holdings in shares of Central Garden & Pet by 28.8% during the 1st quarter. Armistice Capital LLC now owns 1,025,085 shares of the company’s stock worth $33,551,000 after acquiring an additional 229,324 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Central Garden & Pet by 5.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company’s stock valued at $28,795,000 after acquiring an additional 47,257 shares during the period. 50.82% of the stock is owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.