StockNews.com Downgrades Central Garden & Pet (NASDAQ:CENTA) to Hold

Central Garden & Pet (NASDAQ:CENTA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other equities analysts also recently weighed in on CENTA. Truist Financial reaffirmed a “hold” rating and set a $35.00 target price (down previously from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet presently has an average rating of “Hold” and an average target price of $33.00.

Central Garden & Pet Stock Performance

Shares of CENTA stock opened at $30.72 on Friday. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $31.36 and a 200 day moving average of $31.94. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.88 and a beta of 0.68. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03.

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

Insider Buying and Selling

In other news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the sale, the insider now directly owns 67,111 shares in the company, valued at $2,205,267.46. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its position in Central Garden & Pet by 6.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company’s stock valued at $180,000 after purchasing an additional 325 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Central Garden & Pet by 3.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company’s stock valued at $431,000 after buying an additional 398 shares in the last quarter. Sei Investments Co. grew its stake in shares of Central Garden & Pet by 0.8% during the 4th quarter. Sei Investments Co. now owns 49,074 shares of the company’s stock valued at $1,622,000 after acquiring an additional 410 shares during the period. Keybank National Association OH increased its holdings in Central Garden & Pet by 2.7% in the 4th quarter. Keybank National Association OH now owns 17,640 shares of the company’s stock worth $583,000 after acquiring an additional 468 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $49,000 after acquiring an additional 517 shares during the period. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

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.